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THE  COLUMBUS  RAILWAY,  POWER  AND  LIGHT 

COMPANY 


HARRIS  TRUST  AND  SAVINGS  BANK, 

TRUSTEE 


flfoortgage 

Dated  December  1,  1921 


REFUNDING  MORTGAGE  GOLD  BONDS 
ISSUABLE  IN  SERIES 


Printed  in  the  Dnited  States  by  The  Evening  Post  Job  Printing  Office.  Inc.,  154  Fulton  St.,  New  Tort,  N.  Y. 


I 


TABLE  OF  CONTENTS.* 


Parties  . 

Recitals  . 

Form  of  coupon  bonds . 

Form  of  coupon . . 

Form  of  registered  bonds  without  coupons . 

Form  of  Trustee’s  certificate . 

Recitals  as  to  authorization . 

Granting  clauses . . 

Description  of  collateral . 

Description  of  mortgaged  properties . 

General  description . 

Trackage  formerly  of  The  Columbus  Railway  Company 

Further  trackage . 

Real  Estate  in  Columbus . . 

(1)  South  High  St.  Car  Barn . . . 

(2)  South  High  St.  Car  Barn . 

(3)  Oak  St.  Car  Barn  and  General  Shop . 

(4)  Spring  St.  Power  Station . 

(5)  North  High  St.  Car  Barn . 

(6)  West  Broad  St.  Car  Barn . 

(7)  West  Broad  St.  Car  Barn . 

(8)  Automobile  Repair  Shop.., . 

(9)  West  Broad  St.  Car  Barn  and  adjacent  lots.  .. 

(10)  Oak  St.  Car  Storage  Barns . 

(11)  Oak  St.  Car  Storage  Yard . 

(12)  Oak  St.  Car  Storage  Yard . 

(13)  Olentangy  Park  Loop . 

(14)  Right  of  Way . 

(15)  Lots  adjoining  Milo  Car  Barn . 

(16)  Merritt  St.  Car  Barn  and  Repair  Shop . 

(17)  Storage  for  cars  for  Fair  Ground  service . 

(18)  Milo  Car  Barn  and  Sub-station . 

Real  Estate  in  Franklin  County  outside  of  Columbus.  ... 

(19)  Right  of  way  east  of  Minerva  Park . 

(20)  Grandview  Yard  Gravel  Bank . . 

(21)  Grandview  Storage  Yard . 

(22)  Grandview  Storage  Yard . . 

(221/2)  Right  of  Way  through  Minerva  Park . 


PAGE 

1 

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2 

5 

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8 

8 

8-9 

9 

10-51 

9 

10 

16 

17 

17 

17 

17 

18 
18 
18 
19 
19 

19 

20 
20 
20 
21 
21 
22 
22 
23 
25 
25 
25 

27 

28 
28 

29-30 


*  The  Table  of  Contents  and  marginal  notes  are  not  in  the  original  Indenture  as  executed  and 
delivered. 


II 


PAGE 

Further  Real  Estate  in  Columbus .  30 

(23)  Third  and  Gay  Sts.  Power  Station .  30 

(24)  Third  and  Gay  Sts.  Power  Station .  30 

(25)  Third  and  Gay  Sts.  Power  Station .  31 

(26)  Mound  and  17th  Sts.  Power  Station .  31 

(27)  McMillan  Ave.  Power  Station .  31 

(28)  McMillan  Ave.  Power  Station .  31 

Hot  Water  Lines .  32 

Trackage  formerly  owned  by  The  Central  Market  Street  Railway  Company.  .  33 

Further  Real  Estate  in  Columbus .  34 

(29)  The  Central  Market  Street  Railway  Company  Power  Station .  34 

(30)  Whittier  and  Front  Sts.  Sub-station .  35 

(31)  Mound  and  Canal  Sts.  Sub-station... . . . . . .  36 

(32)  Rich  St.  Sub-station . .  36 

Further  Real  Estate  in  Franklin  County  outside  of  Columbus .  38 

(33)  Hague  Ave.  Sub-station .  38 

(34)  Walnut  Power  Station .  38 

(35)  Walnut  Power  Station . . .  40 

(36)  Pole  Line  Right  of  Way . 42 

(37)  Pole  Line  Right  of  Way .  43 

(38)  Transmission  Line  Tower  Location .  44 

(39)  Grandview  Yard  Extension .  44 

(40)  Llewellyn  Ave.  Sub-station  Site.... .  46 

(41)  Coal  Storage  adjacent  to  Walnut  Power  Station .  46 

(42)  Coal  Storage  adjacent  to  Walnut  Power  Station .  47 

(43)  Walnut  Power  Station .  *  47 

(44)  Transmission  Line  Right  of  Way . 49 

(45)  Transmission  Line  Right  of  Way .  49 

Transmission  and  Distribution  Lines . 50 

Property  transferred  by  any  one  on  behalf  of  the  Company .  51 

Excepted  Properties  .  52-57 

Intention  of  this  Indenture . 57 

Together  with  Appurtenances . ; . .  58 

Definition  of  Trust  Estate .  58 

Definition  of  Electric  Light  and  Power  Properties . . .  58 

Definition  of  Street  Railway  Properties .  59 

Definition  of  Hot  Water  Properties . .  59 

Habendum  . 60 

Underlying  Mortgages .  60-61 

Definition  of  “Divisional  Railway  Mortgages” . 61 

In  Trust  Nevertheless .  61 

Defeasance  . : . ; .  62 

Trust  Estate  held  upon  conditions  and  covenants .  62 


HI 


ARTICLE  I.  page 

Description,  Execution  and  Registration  of  Bonds .  63-77 

Sec.  L  Execution  and  authentication  of  bonds . 63 

Conclusiveness  of  authentication  by  Trustee .  63 

Sec.  2.  Adoption  of  execution  of  bonds  by  former  officers .  63 

Execution  of  bonds  by  future  officers .  64 

Attestation  of  coupons .  64 

Sec.  3.  Bonds  may  be  issued  in  series .  64 

Provisions  relating  to  all  series .  64 

Denominations  and  numbers  of  bonds .  65 

Interchangeability  of  bonds .  65 

Sec.  4.  Provisions  relating  to  “6%  Series  due  1941v  .  65-67 

Sec.  5.  Provisions  relating  to  bonds  of  series  other  than  “6%  Series  due  1941” .  67 

Sec.  6.  Exchanges  of  bonds  for  bonds  of  higher  denominations .  69 

Exchanges  of  bonds  for  bonds  of  smaller  denominations .  70 

Charges  for  exchange  of  bonds .  70 

Sec.  7.  Date  of  registered  bonds  without  coupons .  70 

Recording  and  transfer  of  registered  bonds  without  coupons....  71 
Exchange  of  registered  bonds  without  coupons  for  others  of  like 

amount .  71 

Exchange  of  coupon  bonds  for  registered  bonds  without  coupons  71 
•  Exchange  of  registered  bonds  without  coupons  for  coupon  bonds.  .  72 

Charges  for  exchanges  of  bonds .  72 

Sec.  8.  Compliance  with  Stock  Exchange  rules  or  usage .  73 

Sec.  9.  Designation  of  bonds . 1 .  73 

Use  of  title  “First  Mortgage  Gold  Bonds” .  73 

Sec.  10.  Temporary  bonds . • .  74 

Sec.  11.  Registration  and  transfer  of  coupon  bonds .  75 

Sec.  12.  Registered  owner  of  bonds  deemed  absolute  owner .  76 

Sec.  13.  Mutilated,  destroyed  or  lost  bonds .  77 

ARTICLE  II. 

Issue  of  Bonds .  77-106 

Sec.  1.  Total  principal  amount  of  bonds  issuable  under  this  Indenture  is 

unlimited .  77 

Restrictions  on  issue  of  bonds  of  all  series : 

(a)  Resolution  creating  each  new  series .  78 

(b)  Opinion  of  counsel  that  indebtedness  represented  by  bonds 

to  be  issued  is  within  authority  of  Company .  78 

(c)  Evidence  of  approval  of  Public  Utilities  Commission  or  other 

governmental  body .  78 

Opinion  of  counsel  respecting  the  same .  79 

( d )  Restrictions  as  to  maturity  of  bonds  with  respect  to  certain 

new  properties  .  79 


IV 


PAGE 

(e)  Restrictions  upon  the  issue  of  bonds  with  respect  to  certain 
new  properties  until  the  Company  shall  file  with  the  Trus¬ 
tee  certain  opinions  and  certificates  relating  to  its  street 

railway  franchises  in  Columbus .  79-80 

(/)  Foregoing  does  not  affect  issue  of  bonds  with  respect  to 
electric  light  and  power  properties  not  subject  to  any  of 

divisional  railway  mortgages .  81 

( g )  Bonds  may  not  be  issued  if  Company  is  in  default .  81 

Sec.  2.  $5,000,000  of  bonds  of  6%  Series  due  1941  may  be  executed  forthwith.  81 

Sec.  3.  Reservation  of  bonds  to  retire  underlying  securities .  81-87 

Restrictions  on  refunding  until  Company  shall  comply  with  Subdi¬ 
vision  (e)  of  Section  1  of  Article  II .  83 

Issue  of  bonds  against  cash  deposited  in  connection  with  retirement 

of  underlying  securities .  84 

Conditions  under  which  underlying  securities  may  be  cancelled  and  the 

mortgage  securing  them  satisfied .  85 

Definition  of  Underlying  Mortgages  and  Underlying  Securities .  86 

Restrictions  upon  issue  of  further  underlying  securities .  86 

Sec.  4.  Issue  of  bonds  with  respect  to  property  acquired  subsequent  to  Jan¬ 
uary  1,  1922,  and  conditions  respecting  the  issue  of  such  bonds .  87-93 

Definition  of  Public  Utility  Property .  89 

Issue  of  bonds  with  respect  to  property  subject  to  prior  mortgages.  90 
Expenditure  of  $1,559,000  before  further  bonds  may  be  issued.  ...  92 

Sec.  5.  Requirements  with  respect  to  net  earnings  of  the  Company .  93-96 

Method  of  determining  net  earnings  of  the  Company .  94 

Method  of  determining  net  earnings  of  Electric  Light  and  Power 

Properties . 95 

Sec.  6.  Instruments  to  be  furnished  the  Trustee  prior  to  the  authentication  of 

bonds  .  96-103 

A.  Resolution  of  the  Board  of  Directors  of  the  Company .  96 

B.  Certificate  of  two  officers  of  the  Company .  96-100 

C.  Independent  engineer’s  certificate .  100 

D.  Net  Earnings  certificate .  101 

E.  Conveyances  with  opinion  of  counsel .  102 

F.  Further  opinion  of  counsel .  102 

Sec.  7.  Issue  of  bonds  against  deposited  cash .  103 

Sec.  8.  Refunding  of  bonds  due  or  called  for  redemption .  101 

Sec.  9.  Signature  of  orders  or  requests  by  Company .  105 

Trustee  may  rely  on  certain  instruments .  106 

Sec.  10.  Directors  may  fix  price  for  sale  of  bonds .  106 

ARTICLE  III. 

Redemption  of  Bonds . 106-109 

Sec.  1.  Redemption  of  bonds .  106 

Method  of  redemption .  107 


V 


PAGE 


Sec.  2.  Redeemed  bonds  to  be  cancelled  by  Trustee .  109 

Sec.  3.  Trustee’s  decision  as  to  notice  of  redemption  to  be  final .  109 


ARTICLE  IV. 

Sinking  Fund . 109-114 

Sec.  1.  Definitions  of  sinking  fund  dates  and  sinking  fund  price .  109 

Sec.  2.  Company  covenants  to  maintain  sinking  fund  and  make  payments 

to  Trustee .  110 

Certain  bonds  excluded  in  calculating  amount  outstanding .  110 

Trustee  may  rely  on  certificate  of  Treasurer  or  Assistant  Treasurer  of 

the  Company .  110 

Interest  added  to  sinking  fund .  Ill 

Sec.  3.  Trustee  shall  apply  sinking  fund  to  purchase  of  outstanding  bonds.  ..  .  Ill 
Company  may  prescribe  conditions  of  application  of  moneys  in  sinking 

fund  in  excess  of  2 %%  of  amount  of  outstanding  bonds .  Ill 

Trustee  shall  advertise  for  proposals  to  sell  bonds  for  the  sinking  fund  111 

Acceptance  of  bids.  . .  112 

Bonds  held  by  the  Company  and  excluded  bonds  not  to  be  purchased.  .  112 

Trustee  to  redeem  bonds  when  unable  to  purchase  bonds .  113 

Sinking  fund  to  be  dealt  with  as  part  of  proceeds  if  trust  estate  is  sold.  113 

Sec.  4.  Payments  to  sinking  fund  reduced  to  1%  of  outstanding  bonds  when 

certain  certificates  and  opinions  are  filed .  113 

Sec.  5.  Bonds  acquired  by  Trustee  with  sinking  fund  moneys  must  be  can¬ 
celled  and  delivered  to  Company .  113 

Sec.  6.  Directors  may  determine  whether  bonds,  other  than  6%  Series  due 

1941,  are  entitled  to  benefit  of  sinking  fund .  114 

Directors  may  provide  different  sinking  fund  price  for  bonds  other  than 

6%  Series  due  1941 .  114 

Directors  may  provide  additional  sinking  fund .  114 


ARTICLE  V. 

Covenants  . 114-127 

Sec.  1.  To  pay  interest  and  principal . 114-115 

Sec.  2.  To  maintain  office  or  agency  in  Hew  York .  115 

Sec.  3.  Seisin,  possession,  freedom  from  liens,  etc .  115 

Sec.  4.  Further  assurances .  11G 

Sec.  5.  To  record  and  file  Indenture  and  supplemental  indentures .  116 

Sec.  6.  To  maintain  corporate  existence,  preserve  franchises,  comply  with 

laws  .  116 

Sec.  7.  Covenants  with  respect  to  underlying  securities  and  mortgages .  117 

Sec.  8.  To  preserve  lien  and  prevent  equal  or  prior  liens  and  charges .  117 

Sec.  9.  To  pay  taxes .  118 

Sec.  10.  To  keep  property  insured . 118-119 

Sec.  11.  To  permit  examination  by  Trustee,  to  furnish  reports  and  other  in¬ 
formation  .  119 


VI 


PAO.E 


Sec.  12.  Trustee  may  make  payments  if  Company  defaults .  120 

See.  13.  Not  to  issue  bonds  contrary  to  provisions  of  this  Indenture  or  law.  . .  .120-121 
Sec.  14.  Subsequent  mortgages  to  be  expressly  subject  to  prior  lien  of  this 

Indenture .  121 

Sec.  15.  To  perform  covenants  in  supplemental  indentures .  121 

Sec.  16.  (A)  To  maintain  property;  minimum  percentages  of  gross  operating 

revenues  to  be  expended  for  maintenance  and/or  depreciation. .  .  121 

Percentages  to  be  readjusted  at  5  year  intervals .  122 

(B)  To  file  certificate  of  expenditures  and/or  appropriations  for  main¬ 

tenance  and/or  depreciation .  123 

Cash  to  be  paid  to  Trustee  in  certain  cases .  123 

(C)  Certificate  of  acquisition  of  additional  property  in  lieu  of  cash 

payment  .  123 

Reserve  for  maintenance;  when  payable  to  Company .  <■  124 

(D)  Property  included  in  certificate  may  not  be  further  used  as  basis 

for  bonds  or  withdrawal  of  cash .  125 

Interest  allowed  on  reserve  for  maintenance .  125 

In  case  of  sale  reserve  for  maintenance  added  to  proceeds .  125 

(E)  Arbitration  of  percentage  of  gross  operating  revenues  or  readjust¬ 

ments  thereof .  125 

Sec.  17.  Restrictions  upon  dividends  which  may  be  declared  or  paid  by  the 

Company  .  127 


ARTICLE  YI. 


t  •  -  -  * 

Remedies  . 127-144 

Sec.  1.  Extended  Coupons .  127 

Sec.  2,  Events  of  default  defined  and  enumerated . 128 

Declaration  that  principal  is  due .  129 

Rescission  of  declaration .  130 

Sec.  3.  Rights  of  Trustee  on  happening  of  events  of  default .  130 

I.  Entry  . . 130 

Application  of  income  of  trust  estate .  131 

Restoration  of  trust  estate  to  Company .  132 

II.  Sale  of  trust  estate .  132 

III.  Sale  of  collateral . .  133 

Notice  of  sale .  133 

Application  of  proceeds  of  sale .  134 

IV.  Proceedings  at  law  or  in  equity .  134 

Remedies  not  exclusive . 135 

Delay  or  omission  not  to  be  waiver .  135 

Sec.  4.  Judicial  sale, , . 135 

Appointment  of  Receiver . .  135 

Sec.  5.  Sale  in  one  parcel  or  in  several  parcels .  136 


I  r 


VII 


PAGE 


Sec.  6.  Adjournment  of  sale .  136 

Sec.  7.  Receipt  for  purchase  money .  136 

Sec.  8.  Purchaser  may  use  bonds  in  payment .  137 

Sec.  9.  Conveyance  to  purchaser  at  any  sale . . 137 

Sec.  10.  Entire  interest  of  Company  to  be  divested  by  sale .  138 

Sec.  11.  Application  of  proceeds  of  sale .  138 

Sec.  12.  Sale  matures  principal  of  bonds .  139 

Sec.  13.  Company  covenants  on  default  to  pay  principal  and  interest  to 

Trustee  .  140 

Right  of  Trustee  to  secure  judgment  therefor .  140 

Application  of  moneys  collected  by  Trustee .  141 

Sec.  14.  Waiver  of  stay,  extension,  valuation,  appraisement  and  redemption 

laws  . .  141 

Sec.  15.  Majority  of  bondholders  may  direct  proceedings .  142 

Sec.  16.  Duty  of  Trustee  to  act  to  protect  and  enforce  its  rights  and  the  rights 

of  the  bondholders .  142 

Sec.  17.  Bondholders  cannot  avail  of  certain  remedies  unless  Trustee  refuses 

or  neglects  to  act .  143 

Absolute  right  of  bondholders  to  enforce  payment  of  principal  and 

interest  .  143 

Sec.  18.  Rights  not  affected  by  discontinuance  or  abandonment  of  proceedings.  144 

Sec.  19.  Remedies  not  restricted  to  any  particular  property .  144 

Sec.  20.  Trustee  may  enforce  remedies  without  possession  of  bonds  or  coupons.  144 


ARTICLE  VII. 

Concerning  the  Bondholders . . 

Execution  of  requests;  proof  of  ownership...., 

:  I 

ARTICLE  VIII. 

Immunities  of  Officers,  Directors  and  Stockholders .  146 

ARTICLE  IX. 

Concerning  Securities  held  by  the  Trustee . 147-149 

Until  an  event  of  default  shall  occur,  Company  may  collect  principal  of 

or  interest  on  pledged  securities . . 

Right  of  Trustee  in  case  of  default . 

Company  is  entitled  only  to  income  from  current  operations . 

Redemption  of  underlying  securities . . . . 

ARTICLE  X. 

Concerning  the  Trust  Estate . 149-151 

Sec.  1.  While  not  in  default  Company  may  retain  possession  of  trust  estate.  . .  149 

Company  may  make  changes  in  leases,  contracts,  etc .  149 


147 

148 

148 

149 


145-146 

145 


VIII 


PAGE 

Sec.  2.  Company  may  sell  worn  out  equipment,  supplies,  etc .  150 

Sec.  3.  Conditions  of  surrender  or  modification  of  any  electric  light  and  power 

or  street  railway  franchise .  150 

Sec.  4.  Conditions  of  sale  or  exchange  of  other  property .  151 

A.  Resolution  of  Directors  authorizing  sale  or  exchange .  151 

B.  Certificate  of  officers .  151 

C.  Certificate  of  engineer  or  other  expert .  152 

D.  When  the  consideration  consists  of  property .  153 

E.  Opinion  of  counsel .  153 

F.  Consideration  to  be  paid  or  delivered  to  Trustee .  153 

Trustee  may  release  property  taken  by  eminent  domain .  153 

Purchaser  not  bound  to  inquire  into  authority  of  Trustee  or 

see  to  application  of  consideration .  154 

Sec.  5.  Application  of  money  received  by  Trustee .  154 

Interest  on  funds  held  by  Trustee .  156 

Any  such  funds  held  by  the  Trustee  to  be  dealt  with  as  part  of  pro¬ 
ceeds  of  sale  if  trust  estate  is  sold .  156 

Sec.  6.  Receiver  or  Trustee  in  possession  may  exercise  powers .  156 

Sec.  7.  Required  evidence  sufficient  authority  for  Trustee .  157 

ARTICLE  XI. 

Defeasance  .  157 

Sec.  1.  Satisfaction  of  this  Indenture .  157 

Sec.  2.  Funds  deposited  with  Trustee  to  pay  principal  and  interest  of  the  bonds  157 

ARTICLE  XII. 

The  Trustee . 158-163 

Sec.  1.  Conditions  of  acceptance  of  trust .  158 

( a )  Trustee  is  not  obliged  to  do  certain  things .  158 

( b )  Trustee  is  not  responsible  for  validity  of  Indenture  or  bonds 

or  for  recitals  therein .  159 

( c )  Trustee  may  employ  agents,  but  is  not  responsible  for  acts  if 

reasonable  care  is  exercised  in  appointment  thereof .  159 

( d )  Trustee  may  advise  with  counsel .  159 

(e)  Trustee  may  rely  on  instruments  furnished  to  it .  160 

(/)  Trustee  may  rely  on  certificate  of  officers  as  evidence  of  facts, 

the  proof  of  which  is  not  specifically  provided  for .  160 

( g )  Trustee  shall  be  entitled  to  reasonable  compensation  and  re¬ 

imbursement  for  expenditures  and  to  a  prior  lien  for  pay¬ 
ment  thereof .  161 

(h)  Trustee  is  not  obliged  to  enforce  trust  unless  requested  by 

holders  of  not  less  than  25%  of  bonds .  161 

( i )  Trustee  may  assume  that  there  is  no  default  unless  notice  is 

given  by  holders  of  10%  of  bonds .  162 


IX 


PAGE 

O’)  Trustee  may  request  inspection  of  bonds  and  establishment 

of  title  thereto .  1C2 

(k)  Trustee  is  not  accountable  for  use  of  bonds  or  proceeds .  162 

(0  Trustee  may  acquire  and  hold  bonds  or  underlying  securities  162 

ARTICLE  XIII. 

Resignation,  Removal  and  Substitution  of  Trustees . 163-166 

Sec.  1.  Resignation  of  Trustee .  163 

Sec.  2.  Removal  of  Trustee .  163 

Sec.  3.  Appointment  of  successor  Trustee .  163 

Sec.  4.  Vesting  of  trust  estate  in  successor .  164 

Sec.  5.  Merger  or  consolidation  of  Trustee .  165 

Sec.  6.  Authentication  or  delivery  of  bonds  by  successor  Trustee .  165 

Sec.  7.  Trustee  not  required  to  give  bond  or  security .  166 

Sec.  8.  Definition  of  word  “Trustee” .  166 

ARTICLE  XIV. 

Consolidation,  Merger  and  Purchase . 166-170 

Sec.  1.  Consolidation,  merger,  conveyance  or  lease  by  Company  permitted.  ..  .  166 

Supplemental  Indenture  to  be  executed  by  successor .  167 

Sec.  2.  Successor  corporation  substituted  for  Company .  167 

Conditions  imposed  upon  successor .  168 

Sec.  3.  Extent  to  which  property  of  successor  corporation  shall  be  subject  to 

the  lien  of  this  Indenture .  169 

Sec.  4.  Definition  of  term  “Company” .  170 

Sec.  5.  Surrender  of  powers  by  Company .  170 

ARTICLE  XV. 

Supplemental  Indentures . 170-171 

Sec.  1.  Execution  and  purposes  of  supplemental  indentures .  170 

Sec.  2.  Trustee  is  authorized  to  execute  supplemental  indentures .  171 

ARTICLE  XVI. 

Sundry  Provisions .  172 

Sec.  1.  Successors  and  assigns .  172 

Sec.  2.  Covenants  are  for  benefit  only  of  parties  and  bondholders .  172 

Sec.  3.  Counterparts  .  172 

Testimonium  .  172 

Signatures . i .  173 

Acknowledgments . 173-174 

Recorder’s  Certificate .  174 


indenture,  dated  as  of  the  first  day  of  December,  in  the  year  one  Parties, 
thousand  nine  hundred  and  twenty-one,  between  The  Columbus 
Railway,  Power  and  Light  Company,  a  corporation  duly  organized 
and  existing  under  and  by  virtue  of  the  laws  of  the  State  of  Ohio  (here¬ 
inafter  sometimes  called  the  “Company”),  party  of  the  first  part,  and 
Harris  Trust  and  Savings  Bank,  a  corporation  duly  organized  and 
existing  under  and  by  virtue  of  the  laws  of  the  State  of  Illinois  (herein¬ 
after  sometimes  called  the  “Trustee” ) ,  party  of  the  second  part. 

Whereas,  the  Company  deems  it  necessary,  from  time  to  time,  to  Recitals, 
borrow  money  for  its  proper  corporate  purposes  and  to  issue  its  bonds 
therefor,  and  to  secure  the  payment  of  said  bonds  by  a  mortgage  on  all  its 
property  and  franchises,  now  owned  or  hereafter  acquired  except  as  here¬ 
inafter  set  forth,  and  to  that  end,  has  duly  authorized  and  directed  the 
issue  of  its  bonds,  not  limited  in  aggregate  principal  amount  except  as 
hereinafter  otherwise  provided,  to  be  known  as  its  Refunding  Mortgage 
Gold  Bonds,  to  be  issued  in  one  or  more  series,  to  mature  on  such  date,  to 
bear  such  rate  of  interest,  to  be  coupon  bonds  and/or  registered  bonds 
without  coupons  and  to  contain  such  other  specifications  and  provisions 
as  are  hereinafter  in  this  Indenture  provided  or  permitted,  and  has  duly 
authorized  and  directed  the  execution  and  delivery  of  this  Indenture  in 
order  to  secure  the  payment  of  the  principal  of  and  interest  on  said  bonds, 
to  provide  for  the  authentication  thereof  by  the  Trustee  and  to  establish 
and  declare  the  terms  and  conditions  upon  which  said  bonds  are  to  be 
issued,  received  and  held;  and 

Whereas,  the  bonds,  the  coupons  to  be  attached  thereto  and  the  Recitals, 
certificate  of  the  Trustee  to  be  endorsed  thereon,  are  to  be  substantially 
in  the  following  forms,  respectively,  the  series,  numbers  and  denomina¬ 
tions,  dates  of  maturity  and  of  interest  payments,  and  rates  of  interest 
and  date  fixing  the  standard  of  weight  and  fineness  of  gold  coin  to  be  paid, 
to  be  inserted  therein,  and  such  other  appropriate  insertions,  omissions 
and' variations  to  be  made  in  respect  of  such  bonds  and  coupons  as  may 


2 


Form  of 
coupon  bonds. 


be  authorized  by  the  Board  of  Directors  of  the  Company  to  express  the 
terms  and  conditions  of  redemption  of  the  bonds  before  maturity  (if 
redeemable),  and  of  convertibility  thereof  (if  convertible),  to  express  the 
covenants  of  the  Company  in  respect  of  payment  of  taxes,  and  in  other 
respects  to  express  the  terms  and  conditions  on  which  said  bonds  are 
issued,  as  required  or  permitted  by  this  Indenture : 

[form  of  coupon  bond.] 

UNITED  STATES  OF  AMERICA 
State  of  Ohio 

THE  COLUMBUS  RAILWAY,  POWER  AND  LIGHT  COMPANY 

Refunding  Mortgage  Gold  Bond 

No .  Series  $ . 

The  Columbus  Railway,  Power  and  Light  Company  (hereinafter  called 
the  Company),  a  corporation  of  the  State  of  Ohio,  for  value  received, 
hereby  promises  to  pay  to  bearer,  or  if  this  bond  be  registered,  to  the  regis¬ 
tered  holder  hereof,  on  the  first  day  of  ,  at  its  office  or  agency 

in  the  Borough  of  Manhattan,  City  of  New  York,  the  sum  of 

Dollars  ($  ),  in  gold  coin  of  the  United  States  of 

America  of  or  equal  to  the  standard  of  weight  and  fineness  as  it  existed 
on  the  first  day  of  and  to  pay  interest  thereon  from  the 

first  day  of  December,  1921,  at  the  rate  of  per  cent.  (  %)  per 

annum,  in  like  gold  coin  at  said  office  or  agency  of  the  Company,  or  at 
the  option  of  the  holder  at  the  office  of  the  Trustee  in  the  City  of  Chicago, 
on  the  first  day  of  and  the  first  day  of 

in  each  year,  until  the  payment  of  said  principal  sum,  but  only  upon 
presentation  and  surrender  of  the  interest  coupons  hereto  attached  as 
they  severally  mature. 

This  bond  is  one  of  an  authorized  issue  of  bonds  of  the  Company, 
known  as  its  Refunding  Mortgage  Gold  Bonds,  issued  and  to  be  issued 
in  one  or  more  series,  under,  and  all  equally  and  ratably  secured  by, 
an  Indenture,  dated  as  of  December  1,  1921,  duly  executed  by  the 


Company  to  Harris  Trust  and  Savings  Bank,  a  corporation  of  the  State 
of  Illinois,  as  Trustee,  to  which  Indenture  reference  is  hereby  made 
for  a  description  of  the  properties  and  franchises  mortgaged  and  con¬ 
veyed,  the  nature  and  extent  of  the  security,  the  terms  and  conditions 
upon  which  the  bonds  are  issued  and  the  rights  of  the  holders  of  the  bonds 
and  of  the  Trustee  in  respect  of  such  security.  As  provided  in  said 
Indenture,  said  bonds  may  be  for  various  principal  sums  and  are  issuable 
in  series,  which  may  mature  at  different  times,  may  bear  interest  at 
different  rates  and  may  otherwise  vary  as  in  said  Indenture  provided. 

In  case  an  event  of  default,  as  defined  in  said  Indenture,  shall  occur, 
the  principal  of  all  the  bonds  issued  thereunder  may  become  or  be 
declared  due  and  payable,  in  the  manner,  with  the  effect  and  subject  to 
the  conditions  provided  in  said  Indenture. 

This  bond  is  transferable  by  delivery  unless  registered  as  to  prin¬ 
cipal  in  the  name  of  the  holder  on  books  of  the  Company  to  be  kept  for 
that  purpose  at  the  office  or  agency  of  the  Company  in  the  Borough 
of  Manhattan,  City  of  New  York,  and  at  the  office  of  the  Trustee,  such 
registration  to  be  noted  hereon.  After  such  registration,  no  transfer 
shall  be  valid  unless  made  upon  said  books  by  the  registered  holder,  in 
person  or  by  his  attorney  duly  authorized  in  writing,  and  similarly  noted 
hereon ;  but  this  bond  may  be  discharged  from  registration  by  being,  in 
like  manner,  transferred  to  bearer,  and  thereupon  transferability  by 
delivery  shall  be  restored,  after  which  this  bond  may  again,  from  time  to 
time,  be  registered  or  made  transferable  to  bearer  as  before.  Such  regis¬ 
tration,  however,  shall  not  affect  the  negotiability  of  the  coupons  for  in¬ 
terest  hereto  attached,  which  shall  always  continue  to  be  payable  to  bearer 
and  to  be  transferable  by  delivery  merely  and  payment  to  the  bearer 
thereof  shall  fully  discharge  the  Company  in  respect  of  the  interest  therein 
mentioned,  whether  or  not  this  bond  be  registered.  The  holder  of  bonds 
of  the  denomination  of  $1,000  or  aggregating  $1,000  or  an  authorized 
multiple  thereof,  at  his  option,  may  surrender  the  same,  with  all 
unmatured  coupons  attached  thereto,  in  exchange  for  a  registered  bond 
of  the  same  series,  without  coupons,  for  a  like  amount  of  principal,  bear- 


4 


ing  interest  from  the  next  preceding  interest  day,  which  registered  bond 
may  in  turn  be  re-exchanged  for  said  coupon  bond  or  bonds,  all  as  pro¬ 
vided  in  the  Indenture,  and  upon  payment,  in  any  event,  of  the  charges 
therein  prescribed. 

No  recourse  shall  be  had  for  the  payment  of  the  principal  of  or  the 
interest  on  this  bond,  or  for  any  claim  based  hereon  or  otherwise  in 
respect  hereof  or  of  said  Indenture,  against  any  incorporator,  or  against 
any  past,  present  or  future  stockholder,  director  or  officer  of  the  Com¬ 
pany,  or  of  any  predecessor  or  successor  corporation,  either  directly  or 
through  the  Company  or  any  such  predecessor  or  successor  corporation, 
whether  for  amounts  unpaid  on  stock  subscriptions  or  by  virtue  of  any 
constitution,  statute  or  rule  of  law,  or  by  the  enforcement  of  any  assess¬ 
ment  or  penalty  or  otherwise  howsoever;  all  such  liability  being,  by  the 
acceptance  hereof  and  as  a  part  of  the  consideration  of  the  issue  hereof, 
expressly  waived  and  released  by  every  holder  hereof,  as  more  fully  pro¬ 
vided  in  said  Indenture. 

Neither  this  bond  nor  any  of  the  annexed  interest  coupons  shall  be 
valid  or  become  obligatory  for  any  purpose  unless  and  until  the  certifi¬ 
cate  endorsed  hereon  shall  have  been  executed  by  the  Trustee  under  said 
Indenture. 

In  witness  whereof,  The  Columbus  Railway,  Power  and  Light 
Company  has  caused  this  bond  to  be  signed  by  its  President  or  one  of 
its  Vice-Presidents,  and  its  corporate  seal  to  be  hereunto  affixed  and  the 
same  to  be  attested  by  its  Secretary  or  one  of  its  Assistant  Secretaries, 
and  coupons  for  said  interest  bearing  the  facsimile  signature  of  its 
Treasurer  to  be  hereunto  attached,  as  of  the  first  day  of  December,  1921. 

The  Columbus  Railway,  Power  and  Light 

Company, 


By 


Attest : 


5 


[form  of  interest  coupon.] 

No .  $ . 

On  the  first  day  of  ,  The  Columbus  Railway, 

Power  and  Light  Company,  will  pay  to  bearer,  at  its  office  or  agency 
in  the  Borough  of  Manhattan,  City  of  New  York,  or,  at  the  option 
of  the  holder,  at  the  office  of  the  Trustee  in  the  City  of  Chicago, 

Dollars  ($  )  gold  coin  of  the  United  States, 

being  months’  interest  then  due  on  its  Refund¬ 
ing  Mortgage  Gold  Bond  Series  ,  number 

This  coupon  will  not  be  payable  if  said  bond  shall  have  been  called 
for  previous  redemption  and  payment  thereof  duly  provided  for. 

•'  I,..?  V'  .  •  .1  %•  •  .  ,  .  Y. 

Treasurer. 

Lv:,1s  I  1  pv:  '  ■  ■:  '■  '  •  A;. 

The  words  “This  coupon  will  not  be  payable  if  said  bond  shall  have 
been  called  for  previous  redemption  and  payment  thereof  duly  provided 
for”,  will  appear  only  upon  coupons  to  which  they  are  applicable,  by 
reason  of  provisions  for  redemption  prior  to  maturity  contained  in  the 
bonds  to  which  such  coupons  are  attached. 

[form  of  registered  bonds  without  coupons.] 

UNITED  STATES  OF  AMERICA 
State  of  Ohio 

THE  COLUMBUS  RAILWAY,  POWER  AND  LIGHT  COMPANY 

Refunding  Mortgage  Gold  Bond 

No .  . Series .  $ . 

The  Columbus  Railway,  Power  and  Light  Company  (hereinafter 
Called  the  Company),  a  corporation  of  the  State  of  Ohio,  for  value 
received,  hereby  promises  to  pay  to 

or  registered  assigns,  on  the  first  day  of  ,  at  its  office  or 

agency  in  the  Borough  of  Manhattan,  City  of  New  York,  the  sum  of 

Dollars  ($  ),  in  gold  coin  of  the  United  States 

of  America,  of  or  equal  to  the  standard  of  weight  and  fineness  as  it  existed 


Form  of 
coupon. 


Form  of 
registered 
bonds  without 
coupons. 


6 


on  the  first  day  of  ,  and  to  pay  interest  thereon  at  the 

rate  of  per  cent.  (  % )  per  annum,  in  like  gold  coin,  from  the 

interest  day  (  or  )  next  preceding 

the  date  of  this  bond,  payable  at  said  office  or  agency  of  the  Company  in 
the  Borough  of  Manhattan,  City  of  New  York,  on  the  days  of 

and  in  each  year,  until  such  principal 

shall  be  paid. 

This  bond  is  one  of  an  authorized  issue  of  bonds  of  the  Company, 
known  as  its  Refunding  Mortgage  Gold  Bonds,  issued  and  to  be  issued 
in  one  or  more  series,  under,  and  all  equally  and  ratably  secured  by, 
an  Indenture,  dated  as  of  December  1,  1921,  duly  executed  by  the 
Company  to  Harris  Trust  and  Savings  Bank,  a  corporation  of  the 
State  of  Illinois,  as  Trustee,  to  which  Indenture  reference  is  hereby 
made  for  a  description  of  the  properties  and  franchises  mortgaged  and 
conveyed,  the  nature  and  extent  of  the  security,  the  terms  and  condi¬ 
tions  upon  which  the  bonds  are  issued  and  the  rights  of  the  holders 
of  the  bonds  and  of  the  Trustee  in  respect  of  such  security.  As  pro¬ 
vided  in  said  Indenture,  said  bonds  may  be  for  various  principal  sums 
and  are  issuable  in  series,  which  may  mature  at  different  times,  may 
bear  interest  at  different  rates  and  may  otherwise  vary  as  in  said 
Indenture  provided. 

In  case  an  event  of  default,  as  defined  in  said  Indenture,  shall  occur 
the  principal  of  all  the  bonds  issued  thereunder  may  become  or  be 
declared  due  and  payable,  in  the  manner,  with  the  effect  and  subject 
to  the  conditions  provided  in  said  Indenture. 

This  bond  is  transferable  by  the  registered  holder  hereof  in  person 
or  by  his  attorney  duly  authorized  in  writing,  on  the  books  of  the  Company 
at  its  office  or  agency  in  the  Borough  of  Manhattan,  City  of  New  York  and 
at  the  office  of  the  Trustee,  upon  surrender  and  cancellation  of  this  bond, 
and,  thereupon,  a  new  registered  bond  of  the  same  series  will  be  issued  to 
the  transferee  in  exchange  herefor,  and  this  bond  with  others  of  like  form 
may  in  like  manner  be  exchanged  for  one  or  more  new  registered  bonds  of 
the  same  series  of  higher  or  lower  authorized  denominations,  but  of  the 


7 


same  aggregate  principal  amount ;  or  the  registered  holder  of  this  bond, 
at  his  option,  may  surrender  the  same  for  cancellation  in  exchange  for  a 
like  amount  of  the  principal  thereof  in  coupon  bonds  of  the  same  series, 
with  coupons  attached  maturing  on  and  after  the  next  ensuing  interest 
date,  which  coupon  bonds  in  appropriate  amounts  may  in  turn  be  re-ex- 
clianged  for  registered  bonds  without  coupons  of  the  same  series  and  of 
the  same  aggregate  principal  amount,  all  as  provided  in  the  Indenture, 
and  upon  payment,  in  any  event,  of  the  charges  therein  prescribed. 

No  recourse  shall  be  had  for  the  payment  of  the  principal  of  or  the 
interest  on  this  bond,  or  for  any  claim  based  hereon  or  otherwise  in 
respect  hereof  or  of  said  Indenture,  against  any  incorporator,  or  against 
any  past,  present  or  future  stockholder,  director  or  officer  of  the  Com¬ 
pany,  or  of  any  predecessor  or  successor  corporation,  either  directly  or 
through  the  Company  or  any  such  predecessor  or  successor  corporation, 
whether  for  amounts  unpaid  on  stock  subscriptions  or  by  virtue  of  any 
constitution,  statute  or  rule  of  law,  or  by  the  enforcement  of  any  assess¬ 
ment  or  penalty  or  otherwise  howsoever;  all  such  liability  being,  by  the 
acceptance  hereof  and  as  part  of  the  consideration  of  the  issue  hereof, 
expressly  waived  and  released  by  every  holder  hereof,  as  more  fully  pro¬ 
vided  in  said  Indenture. 

This  bond  shall  not  be  valid  or  become  obligatory  for  any  purpose 
unless  and  until  the  certificate  endorsed  hereon  shall  have  been  executed 
by  the  Trustee  under  said  Indenture. 

In  witness  whereof,  The  Columbus  Rahway,  Power  and^ight 
Company  has  caused  this  bond  to  be  signed  by  its  President  or  one  of 
its  Vice-Presidents,  and  its  corporate  seal  to  be  hereunto  affixed  and  the 
same  to  be  attested  by  its  Secretary  or  one  of  its  Assistant  Secretaries, 
this  day  of 

The  Columbus  Railway,  Power  and  Light 

Company, 

By . 


Attest : 


8 


Form  of 

Trustee’s 

certificate. 


Recitals  as 
to  authoriza¬ 
tion. 


Granting 

clause. 


[form  of  trustee's  certificate.] 

This  bond  is  one  of  the  (temporary)  bonds,  of  the  series  designated 
therein,  described  in  the  within  mentioned  Indenture. 

Harris  Trust  and  Savings  Bank, 

Trustee. 

By . , 

;  and 

Whereas,  the  Board  of  Directors  and  the  stockholders  of  the  Com¬ 
pany,  at  meetings  thereof  respectively  duly  convened  and  held,  have  duly 
authorized  the  execution  and  delivery  of  this  Indenture;  and 

Whereas,  all  other  acts  and  things  prescribed  by  law  necessary  to 
make  said  bonds  when  executed  by  the  Company  and  authenticated  by 
the  Trustee  and  issued,  the  valid,  binding  and  negotiable  obligations  of 
the  Company  and  to  make  this  Indenture  a  valid  and  binding  mortgage 
and  deed  of  trust  for  the  security  of  said  bonds  in  accordance  with  their 
terms,  have  been  done  and  performed ;  and  the  execution  and  delivery  of 
this  Indenture  have  been  in  all  respects  duly  authorized; 

Now,  THEREFORE,  THIS  INDENTURE  WITNESSETH,  that,  in  Order  to 
secure  the  payment  of  the  principal  and  interest  of  all  bonds  at  any 
time  issued  and  outstanding  under  this  Indenture  according  to  their 
tenor,  purport  and  effect,  and  the  performance  and  observance  of  all  the 
covenants  and  conditions  therein  and  herein  contained,  and  to  declare 
the  terms  and  conditions  upon  and  subject  to  which  said  bonds  are 
secured,  and  for  and  in  consideration  of  the  premises  and  of  the  mutual 
covenants  herein  contained  and  of  the  purchase  and  acceptance  of  such 
bonds  by  the  holders  thereof,  and  of  the  sum  of  one  dollar,  lawful  money 
of  the  United  States  of  America  to  the  Company  duly  paid  by  the 
Trustee  at  and  before  the  ensealing  and  delivery  hereof,  the  receipt 
whereof  is  hereby  acknowledged,  the  Company  has  executed  and  delivered 
this  Indenture  and  has  bargained,  sold,  assigned,  transferred,  deposited, 


9 


pledged  and  set  over,  and  by  these  presents  does  bargain,  sell,  assign, 
transfer,  deposit,  pledge  and  set  over  unto  Harris  Trust  and  Savings 
Bank,  as  Trustee,  and  to  its  successor  or  successors  in  said  trust,  and 
to  its  and  their  assigns  forever : 

$6,000,000,  principal  amount  of  the  First  Refunding  and 
Extension  Sinking  Fund  Mortgage  Five  Per  Cent.  Gold  Bonds  of 
the  Company,  with  all  unmatured  coupons  thereto  attached,  issued 
under  a  certain  Indenture  of  Mortgage  to  Girard  Trust  Company, 
as  Trustee,  dated  April  1,  1915,  securing  a  total  authorized 
issue  of  $25,000,000  principal  amount  of  such  bonds,  of  which 
$10,682,000,  principal  amount,  including  the  bonds  hereby  pledged, 
are  outstanding  at  the  date  of  the  execution  and  delivery  hereof; 

and  has  granted,  bargained,  sold,  released,  conveyed,  assigned,  trans¬ 
ferred,  pledged,  set  over  and  confirmed,  and  by  these  presents  does  grant, 
bargain,  sell,  release,  convey,  assign,  transfer,  pledge,  set  over  and  con¬ 
firm  unto  Harris  Trust  and  Savings  Bank,  as  Trustee,  and  to  its  successor 
or  successors  in  said  trust,  and  to  its  and  their  assigns  forever,  all 
and  singular  the  following  described  properties — that  is  to  say : 

All  of  the  estates  and  properties,  real,  personal  and  mixed,  rights, 
privileges,  franchises  and  choses  in  action  of  every  nature  and  kind  and 
wheresoever  situate,  now  or  hereafter  owned  or  possessed  by,  or  belonging 
to,  the  Company,  or  to  which  it  is  now,  or  may  at  any  time  hereafter  be,  in 
any  manner  entitled  in  law  or  in  equity,  except  as  hereinafter  expressly 
provided ;  including  all  of  its  railroad,  street  and  interurban  railway,  elec¬ 
tric  light  and  power  and  hot  water  heating  and  other  supply  lines,  all 
plants  and  properties,  rights,  privileges  and  appurtenances  used  in  con¬ 
nection  therewith,  transmission  and  distribution  systems,  real  estate, 
power  houses,  sub-stations,  car  barns  and  shops,  pipe  lines,  offices  and 
other  buildings,  structures  and  improvements,  equipment  and  machinery, 
dynamos,  transformers,  generators,  boilers  and  engines,  rolling  stock, 
rails,  ties,  tracks,  sidings,  poles,  wires,  towers  and  overhead  construction, 
motors,  lamps  and  electrical  equipment,  cables,  conduits  and  underground 


Description 
of  collateral. 


Additional 

granting 

clause. 


General 

description. 


10 


Description 
of  mortgaged 
properties. 


Trackage 
formerly  of 
The  Columbus 
Railway 
Company. 


construction,  bridges,  viaducts,  fixtures,  toons  and  appliances,  supplies, 
stores,  materials,  rights  of  way,  contracts,  riparian  and  water  rights,  sit¬ 
uated  and/or  employed  in  the  City  of  Columbus  and  in  the  County  of 
Franklin,  in  the  State  of  Ohio,  and  elsewhere,  and  all  ordinances,  con¬ 
sents,  licenses,  easements,  franchises,  privileges  and  immunities,  now 
owned  or  hereafter  acquired,  by  the  Company,  including  all  tolls,  reve¬ 
nues,  earnings,  income,  rents,  issues  and  profits,  arising  or  to  arise  out 
of  the  estates,  properties  and  franchises  covered  by  this  Indenture. 

The  following  described  properties,  among  others,  are  included  in 
and  conveyed  by  this  Indenture : 

Trackage  Formerly  of  The  Columbus  Railway  Company. 

First.  The  trackage  formerly  of  The  Columbus  Railway  Company, 
to-wit : 

(1)  Commencing  on  Neil  Avenue  at  its  intersection  with  Woodward 
Avenue,  now  called  Eleventh  Avenue;  thence  south  on  Neil  Avenue  to 
Goodale  Street;  thence  east  on  Goodale  Street  to  its  intersection  with 
High  Street,  being  ten  thousand  and  eighty-eight  and  seven  tenths 
(10,088.7)  feet  of  double  track  and  seventy-eight  and  one  tenth  (78.1) 
feet  of  single  track. 

(2)  Also,  commencing  at  the  end  of  terminal  loop  in  Olentangy 
Park;  thence  east  to  the  intersection  with  High  Street,  also  commencing 
where  the  north  corporation  line  crosses  High  Street  ;  thence  south  on 
High  Street  to  the  intersection  where  the  south  corporation  line  crosses 
the  same,  being  thirty-four  thousand  four  hundred  and  ninety-six  and 
nine  tenths  (34,496.9)  feet  of  double  track  and  one  thousand  eight  hun¬ 
dred  and  forty-eight  and  two  tenths  (1,848.2)  feet  of  single  track.  Of 
the  double  track  on  High  Street  between  Long  and  Broad  Streets,  nine 
hundred  and  forty-five  (945)  feet,  one  track  belongs  to  the  High  Street 
line  and  one  to  the  Long  Street  line. 

(3)  Also,  commencing  on  Rose  Avenue  near  the  south  line  of  Frank¬ 
lin  Park;  thence  south  on  Rose  Avenue  to  its  intersection  with  Main 


11 


Street,  being  one  thousand  five  hundred  and  sixty-seven  and  nine  tenths 
(1,5G7.9)  feet  of  double  track  and  five  hundred  and  forty-seven  and  five 
tenths  (547.5)  feet  of  single  track. 

(4)  Also,  commencing  on  Platt  Street  at  a  point  two  thousand  and 
seven  (2,007)  feet  west  of  Dawson  Street;  thence  east  on  Platt  Street  to 
Dawson  Street;  thence  south  on  Dawson  Street  to  Walnut  Street;  thence 
west  on  Walnut  Street  to  Drexel  Street;  thence  south  on  Drexel  Street 
to  Main  Street;  thence  west  on  Main  Street  to  High  Street,  being  fourteen 
thousand  six  hundred  and  fifty-two  and  four  tenths  (14,052.4)  feet  of 
double  track  and  ten  thousand  one  hundred  and  fifty-five  and  six  tenths 
(10,155.6)  feet  of  single  track. 

(5)  Also,  commencing  on  Oak  Street  at  its  intersection  with  Fair- 
wood  Avenue;  thence  west  on  Oak  Street  to  its  intersection  with  Grant 
Avenue;  thence  south  on  Grant  Avenue  to  its  Intersection  with  State 
Street;  thence  west  on  State  Street  to  its  intersection  with  High  Street, 
being  ten  thousand  seven  hundred  and  forty  eight  and  five  tenths 
(10,748.5)  feet  of  double  track  and  two  thousand  nine  hundred  and 
ninety-nine  and  five  tenths  (2,999.5)  feet  of  single  track. 

(6)  Also,  commencing  on  Mulberry  Street  at  its  intersection  with 
Broad  Street;  thence  north  on  Mulberry  Street  to  its  intersection  with 
Long  Street  ;  thence  west  on  Long  Street  to  its  intersection  with  High 
Street;  thence  south  on  High  Street  (one  track)  to  its  intersection  with 
Broad  Street,  being  twelve  thousand  five  hundred  and  sixty-eight  and  six 
tenths  (12,568.6)  feet  of  double  track  and  seven  hundred  and  ten  and 
four  tenths  (710.4)  feet  of  single  track. 

Of  the  double  track  on  High  Street  between  Long  and  Broad  Street 
nine  hundred  and  forty-five  (945)  feet,  one  track  belongs  to  the  Long 
Street  line  and  one  to  the  High  Street  Line. 

(7)  Also,  commencing  on  Atcheson  Street  at  a  point  two  hundred 
(200)  feet,  east  of  Taylor  Avenue;  thence  west  on  Atcheson  Street  to  its 
intersection  with  Taylor  Avenue;  thence  south  on  Taylor  Avenue  to 
its  intersection  with  Mt.  Vernon  Ave’Uue;  thence  west  on  Mt.  Vernon 


12 


Avenue  to  its  intersection  with  Eighth  Street,  now  called  Cleveland 
Avenue;  thence  south  on  Cleveland  Avenue  to  its  intersection  with  Long 
Street,  being  nine  thousand  and  sixty-three  (9,0G3)  feet  of  double  track 
and  two  thousand  thirty-two  and  three  tenths  (2,032.3)  feet  of  single 
track. 

(8)  Also,  commencing  on  Schiller  Street  (now  Whittier  Street)  at 
its  intersection  with  Lockbourne  Avenue ;  thence  west  on  Schiller  Street 
(now  Whittier  Street)  to  its  intersection  with  High  Street,  being  nine 
thousand  three  hundred  and  thirty  two  and  twenty-seven  hundredths 
(9,332.27)  feet  of  double  track  and  eiglity-six  and  six  tenths  (86.6)  feet 
of  single  track. 

(9)  Also,  commencing  at  Woodward  Avenue,  now  called  Eleventh 
Avenue,  near  its  intersection  with  the  Big  Four  Railroad;  thence  north 
parallel  with  the  Big  Four  Railroad  to  Chittenden  Avenue;  thence  west 
on  Chittenden  Avenue  to  its  intersection  with  High  Street,  being  three 
thousand  two  hundred  thirty-five  and  seven  tenths  (3,235.7)  feet  of 
double  track  and  seven  hundred  eighty-nine  and  eight  tenths  (789.8)  feet 
of  single  track. 

(10)  Also,  commencing  on  Ivelton  Avenue  at  its  intersection  with 
Main  Street;  thence  south  on  Ivelton  Avenue  to  its  intersection  with 
Livingston  Avenue;  thence  south  into  Driving  Park  and  return  to  Liv¬ 
ingston  Avenue;  thence  west  on  Livingston  Avenue  to  its  intersection 
with  High  Street,  being  twelve  thousand  four  hundred  eighty-seven  and 
three  tenths  (12,847.3)  feet  of  double  track  and  three  thousand  eight 
hundred  eighty-eight  and  seven  tenths  (3,888.7)  feet  of  single  track. 

(11)  Also,  commencing  on  Fourth  Street  at  its  intersection  with 
Livingston  Avenue;  thence  north  on  Fourth  Street  to  its  intersection 
with  Wyandotte  Avenue,  being  twenty-one  thousand  seventy-six  and  six 
tenths  (21,076.6)  feet  of  double  track. 

(12)  Also,  commencing  on  Chestnut  Street  at  its  intersection  with 
Fourth  Street;  thence  west  on  Chestnut  Street  to  its  intersection  with 


13 


High  Street,  being  one  thousand  three  hundred  fifteen  and  two  tenths 
(1,315.2)  feet  of  double  track. 

(13)  Also,  commencing  on  Goodale  Street  at  its  intersection  with 
Fourth  Street;  thence  west  on  Goodale  Street  to  its  intersection  with 
High  Street,  being  one  thousand  three  hundred  seventy-eight  and  nine 
tenths  (1,378.9)  feet  of  double  track. 

(14)  Also,  commencing  on  Goodale  Street  at  its  intersection  with 
Neil  Avenue;  thence  west  on  Goodale  Street  to  its  intersection  with 
Broadview  Avenue;  thence  north  on  Broadview  Avenue  to  its  intersec¬ 
tion  with  First  Avenue;  thence  west  on  First  Avenue  to  its  intersection 
with  Cambridge  Place  Avenue;  thence  north  on  Cambridge  Place  Avenue 
to  its  intersection  with  Third  Avenue;  thence  west  on  Third  Avenue  to 
its  intersection  with  Arlington  Avenue ;  thence  north  on  Arlington 
Avenue  and  Arlington  Avenue  extended  to  a  point  nine  hundred  nineteen 
and  three  tenths  (919.3)  feet  north  of  the  center  line  of  Fifth  Avenue, 
being  fourteen  thousand  six  hundred  forty-five  and  five  tenths  (14,645.5) 
feet  of  double  track  and  five  thousand  twenty-four  and  one  tenth 
(5,024.1)  feet  of  single  track. 

(15)  Also,  commencing  on  Arlington  Avenue  at  its  intersection 
with  Third  Avenue;  thence  south  on  said  Arlington  Avenue  four  hundred 
and  twenty  (420)  feet,  being  four  hundred  and  twenty  (420)  feet  of  single 
track. 

(16)  Also,  commencing  on  Parsons  Avenue  at  its  intersection  with 
the  south  corporation  line  of  the  City  of  Columbus;  thence  north  on  said 
Parsons  Avenue  to  Fulton  Street,  being  ten  thousand  seven  hundred 
fifty-six  and  six  tenths  (10,756.6)  feet  of  double  track  and  one  thousand 
seven  hundred  twenty-eight  and  four  tenths  (1,728.4)  feet  of  single  track; 
thence  west  on  said  Fulton  Street  to  Front  Street  being  five  thousand 
three  hundred  two  and  nine  tenths  (5,302.9)  feet  of  double  track;  thence 
north  on  said  Front  Street  to  Spruce  Street ;  thence  west  on  said  Spruce 
Street  to  Harrison  Avenue,  thence  north  on  said  Harrison  Avenue  to 


14 


First  Avenue,  thence  west  on  said  First  Avenue  to  Pennsylvania  Avenue, 
thence  north  on  said  Pennsylvania  Avenue  to  Fifth  Avenue,  being  fifteen 
thousand  three  hundred  and  ninety-seven  and  two  tenths  (15,397.2)  feet 
of  double  track  and  one  hundred  eighty-one  and  five  tenths  (181.5)  feet 
of  single  track. 

(17)  Also,  commencing  at  the  intersection  of  Spring  and  Front 
Streets,  thence  east  on  said  Spring  Street  to  Neilston  Street,  thence 
north  on  said  Neilston  Street  to  Nagliten  Street,  being  three  thousand 
two  hundred  forty-nine  and  seven  tenths  (3,249.7)  feet  of  double  track. 

(18)  Also,  commencing  at  the  intersection  of  Town  and  Front 
Streets,  thence  east  on  said  Town  Street  to  High  Street,  being  five 
hundred  seventy-three  and  one  tenth  (573.1)  feet  of  double  track. 

(19)  Also,  commencing  on  Cleveland  Avenue  at  its  intersection  with 
Buckingham  Street;  thence  north  on  said  Cleveland  Avenue  to  its  inter¬ 
section  with  Woodward  Avenue  ;  thence  west  on  said  Woodward  Avenue 
to  Central  South  Gate  of  the  Ohio  State  Fair  Ground,  being  eleven 
thousand  two  hundred  twenty-two  and  three  tenths  (11,222.3)  feet  of 
double  track. 

(20)  Also,  commencing  on  Cleveland  Avenue  at  its  intersection  with 
Woodward  Avenue;  thence  north  on  said  Cleveland  Avenue,  formerly 
Harbor  Road  to  the  west  entrance  to  Minerva  Park,  thence  east  through 
said  park  and  private  right  of  way  to  the  Blendon  Turnpike,  thence  north 
on  said  Turnpike  to  the  south  corporation  line  of  the  Village  of  Wester¬ 
ville,  thence  by  State  Street  north  through  said  village  to  a  point  near 
its  north  corporation  line,  being  twenty-three  thousand  fifty-two  and  two 
tenths  (23,052.2)  feet  of  double  track  and  thirty-five  thousand  four  hun¬ 
dred  ten  and  eight  tenths  (35,410.8)  feet  of  single  track. 

(21)  Also,  commencing  on  Broad  Street  at  its  intersection  with  High 
Street  in  said  City  of  Columbus;  thence  west  on  Broad  Street  to  Hague 
Avenue,  being  seventeen  thousand  five  hundred  fifty-six  and  four  tenths 
(17,556.4)  feet  of  double  track,  and  three  thousand  two  hundred  twelve 
and  seven  tenths  (3,212.7)  feet  of  single  track. 


15 


(22)  Also,  commencing  on  Glenwood  Avenue  at  its  intersection  with 
said  Broad  Street,  thence  south  on  Glenwood  Avenue  to  the  Harrisburg 
Turnpike;  thence  southwesterly  on  the  Harrisburg  Turnpike  to  the  inter¬ 
section  of  said  Turnpike  with  the  old  Chillieothe  Road;  thence  south  on 
the  old  Chillieothe  Road  to  the  west  entrance  gate  of  Greenlawn  Cemetery, 
being  four  thousand  three  hundred  seventy-seven  and  seven  hundredths 
(4,377.07)  feet  of  double  track  and  three  thousand  one  hundred  seven 
and  ninety-three  hundredths  (3,107.93)  feet  of  single  track. 

(23)  Also,  commencing  on  Sandusky  Street  at  its  intersection  with 
Broad  Street;  thence  south  on  Sandusky  to  Sullivant  Avenue;  thence 
west  on  Sullivant  Avenue  to  the  intersection  with  Glenwood  Avenue, 
being  five  thousand  five  hundred  sixty-eight  and  four  tenths  (5,508.4) 
feet  of  double  track. 

(24)  Also,  commencing  on  Third  Street  at  its  intersection  with 
Long  Street  in  the  said  City  of  Columbus ;  thence  north  on  Third  Street 
to  Chestnut  Street,  being  one  thousand  and  forty-six  (1,046)  feet  of 
double  track. 

(25)  Also,  commencing  on  Nagliten  Street  at  its  intersection  with 
Fourth  Street  thence  east  on  Naghten  Street  to  Neilston  Street;  thence 
north  on  Neilston  Street  to  Mt.  Vernon  Avenue;  thence  on  Mt.  Vernon 
Avenue  eastwardly  to  Cleveland  Avenue;  thence  northwardly  on  Cleve¬ 
land  Avenue  to  Buckingham  Street;  thence  eastwardly  on  Buckingham 
Street  to  Jefferson  Avenue;  thence  northwardly  on  Jefferson  Avenue  to 
Leonard  Avenue ;  thence  eastwardly  on  Leonard  Avenue  crossing  St.  Clair 
Avenue,  to  Felton  Avenue;  thence  eastwardly  on  Felton  Avenue  to 
Leonard  Avenue;  thence  northeastwardly  on  Leonard  Avenue  to  the  old 
city  limits  line  near  the  intersection  of  Leonard  and  Wetmore  Avenues, 
being  nine  thousand  one  hundred  twenty-four  and  seven  tenths  (9,124.7) 
feet  of  double  track  and  one  thousand  one  hundred  twenty-five  and 
four  tenths  (1,125.4)  feet  of  single  track. 

(2G)  Also,  commencing  on  Front  Street  at  its  intersection  with 
Goodale  Street;  thence  north  on  said  Front  Street  three  hundred  and 


16 


Further 

trackage. 


thirty-three  (333)  feet,  being  one  hundred  sixty-five  and  three  tenths 
(165.3)  feet  of  double  track  and  one  hundred  sixty-seven  and  seven  tenths 
(167.7)  feet  of  single  track. 

(27)  Also,  on  the  Mound  Street  Viaduct  over  the  Hocking  Valley 
and  Toledo  and  Ohio  Central  Railways,  being  two  hundred  eighty  and 
four  tenths  (280.4)  feet  of  single  track. 

(28)  All  of  the  above  described  lines  of  railroad  aggregate  two 
hundred  and  fifty-six  thousand  six  hundred  and  twenty-six  and  seventy- 
seven  hundredths  (256,626.77)  feet  of  double  track  and  eighty  thousand 
two  hundred  fifty-five  and  eighty-three  hundredths  (80,255.83)  feet  of 
single  track,  being  a  total  of  one  hundred  and  twelve  and  four  hundred 
and  seven  thousandths  (112.407)  miles  of  single  track  equivalent,  and 
were  conveyed  to  the  Company  by  The  Columbus  Railway  Company  by 
deed  dated  the  29th  day  of  January,  1914,  and  recorded  in  Deed  Book 
Number  559,  pages  101  ct  seq.  Recorder’s  Office,  Franklin  County,  Ohio. 

Further  Trackage. 

Also  the  following  trackage  constructed  by  the  Company  as  additions 
to  and  extensions  of  the  foregoing  trackage,  to-wit: 

(29)  The  extension  of  the  Arlington  line:  Beginning  on  Arlington 
Avenue  at  a  point  919.3  feet  north  from  the  center  of  Fifth  Avenue,  the 
former  terminus  of  said  Arlington  Line;  thence  north  in  Arlington 
Avenue  to  Tremont  Road,  being  one  thousand  five  hundred  and  forty- 
two  and  four  tenths  (1542.4)  feet  of  single  track,  being  an  extension  of 
the  trackage  hereinabove  in  item  14  described. 

(30)  The  Eleventh  Avenue,  Fair  Ground  Loop  and  Grant  Avenue 
Extension :  Beginning  on  Eleventh  Avenue  at  the  Central  south  gate  to 
the  Ohio  State  Fair  Grounds;  thence  west  in  Eleventh  Avenue  to  Grant 
Avenue;  thence  north  in  Grant  Avenue  to  Chittenden  Avenue,  being  one 
thousand  five  hundred  and  fifty-three  (1553)  feet  of  double  track.  Also, 
beginning  on  Eleventh  Avenue  near  the  central  south  gate  to  the  Ohio 
State  Fair  Grounds;  thence  northward  into  the  said  Fair  Grounds; 


17 


thence  westward  and  out  of  said  Fair  Grounds  to  Eleventh  Avenue, 
being  eight  hundred  and  sixty  and  fifty-nine  one-hundredths  (860.59) 
feet  of  single  track,  being  an  extension  of  the  trackage  hereinabove  in 
item  19  described. 

(31)  Park  Street  Extension:  Beginning  on  Park  Street  at  Goodale 
Street ;  thence  south  in  Park  Street  to  Spruce  Street,  being  five  hundred 
and  seventeen  and  forty-four  hundredths  (517.44)  feet  of  double  track, 
being  an  extension  of  the  trackage  hereinabove  in  item  16  described. 


Real  Estate  in  Columbus. 


Real  Estate 
in  Columbus. 


Second.  The  lots,  parcels  and  tracts  of  land  in  the  City  of  Columbus, 
Franklin  County,  State  of  Ohio,  bounded  and  described  as  follows,  to-wit : 


(1)  Inlots  number  six  hundred  and  ninety-seven  (697)  and  six 
hundred  and  ninety-eight  (698)  as  described  upon  the  original  plat  of 
said  City. 


South  High 
St.  Car  Barn. 


(2)  A  portion  of  the  northwest  quarter  of  inlot  number  six  hundred  south  High  st. 

Ccir  Btii'ii 

and  ninety-nine  (699)  as  described  upon  the  original  plat  of  said  City, 
and  bounded  and  described  as  follows,  to-wit:  Beginning  at  the  north¬ 
west  corner  of  said  inlot  No.  699,  thence  south  along  the  west  line  of 
said  inlot  to  a  point  therein  six  (6)  feet  from  the  place  of  beginning; 
thence  east,  and  parallel  with  the  north  line  of  said  inlot,  to  a  point 
ninety  (90)  feet  from  the  west  line  thereof;  thence  north,  and  parallel 
with  the  west  line  of  said  inlot,  six  (6)  feet  to  the  north  line  of  said 
inlot ;  thence  west  to  the  place  of  beginning. 

(3)  Commencing  at  the  northeast  corner  of  Oak  Street,  and  Rose  oakst.  car 

Barn  and 

Avenue,  in  the  said  City  of  Columbus ;  thence  north  along  the  line  of  General  shop. 
Rose  Avenue,  two  hundred  and  twenty-six,  and  seventy  one-hundredths, 

(226.70)  feet;  thence  east,  four  hundred  and  twenty-eight,  and  sixty  one- 
hundredths,  (428.60)  feet  to  an  alley  twenty  feet  wide;  thence  south 
along  the  line  of  said  alley,  two  hundred  and  twenty-six  and  seventy  one- 
hundredths,  (226.70)  feet  to  Oak  Street;  thence  west  along  the  line  of 


18 


Spring  St. 
Power  Station. 


North  High  St. 
Car  Barn. 


West  Broad 
St.  Car  Barn. 


Oak  Street,  four  hundred  and  twenty-eight  and  sixty  one-lmndredths, 
(428.60)  feet  to  the  place  of  beginning;  subject,  however,  to  an  alley 
twenty  feet  wide  across  said  lot. 

(4)  A  strip  of  land  one  hundred  and  fifty,  (150)  feet  wide  lying  at 
the  southwest  corner  of  Spring  and  Cozzens  Streets  in  said  City,  fronting 
on  said  Spring  Street  one  hundred  and  fifty  (150)  feet  and  running 
southerly  along  the  west  side  of  said  Cozzens  Street  of  the  same  width 
to  the  south  line,  in  the  Scioto  River,  of  the  tract  of  land  formerly  owned 
by  William  A.  Neil,  and  being  the  same  premises  conveyed  to  The  Colum¬ 
bus  Consolidated  Street  Railroad  Company  by  the  said  William  A.  Neil, 
by  deed,  dated  the  11th  day  of  December,  A.  D.,  1890,  and  recorded  in 
Deed  Book  No.  220,  page  328,  Franklin  County  Records. 

Also,  a  strip  of  land  lying  on  the  south  side  of  Spring  Street,  next 
to  the  strip  of  land  as  above  conveyed  and  fronting  fifty  (50)  feet  on 
Spring  Street,  and  running  south  of  like  width  to  the  Scioto  River,  being 
the  same  premises  conveyed  to  The  Columbus  Street  Railway  Company 
by  Cotton  H.  Allen,  by  deed  dated  the  14th  day  of  July,  1892,  and  recorded 
in  Deed  Book  No.  237,  Page  442,  Franklin  County  Records. 

(5)  Lots  number  sixteen  (16),  seventeen  (17),  and  eighteen  (18), 
of  George  Williams’  Northwood  Heights  Addition  to  said  City,  as  the 
same  are  numbered  and  delineated  upon  the  recorded  plat  thereof  of 
record  in  Plat  Book  No.  2,  page  121,  Recorder’s  office,  Franklin  County, 
Ohio. 

(6)  Beginning  at  a  point  in  the  south  line  of  the  National  Road  on 
West  Broad  Street  forty  (40)  feet  from  the  center  line  thereof  where 
the  same  intersects  the  east  line  of  Hawkes  Avenue  (now  called  Glenwood 
Avenue),  being  two  hundred  and  seven  and  forty-three  one-hundredtlis 
(207.43)  feet,  westerly  on  the  line  of  West  Broad  Street  from  the  east 
line  of  Lot  No.  Five  (5)  of  M.  L.  Sullivant’s  subdivision  of  lands  west 
of  the  City  of  Columbus,  as  shown  on  the  plat  of  said  subdivision  now  on 
file  in  the  Recorder’s  office  of  said  Franklin  County,  Ohio,  and  running 
thence  at  right  angles  with  the  line  of  said  West  Broad  Street  and 


19 


with  the  east  line  of  Hawkes  Avenue  (now  called  Glenwood  Avenue), 
south  nine  and  three-fourths  (9%)  degrees  east  one  hundred  and  forty 
(140)  feet;  thence  parallel  with  the  line  of  West  Broad  Street,  north 
seventy-nine  and  three-fourths  (79%)  degrees  east  one  hundred  (100) 
feet,  thence  parallel  with  the  line  of  Hawkes  Avenue  (now  called  Glen¬ 
wood  Avenue)  north  nine  and  three-fourths  (9%)  degrees  west  one 
hundred  and  forty  (140)  feet  to  the  south  line  of  West  Broad  Street, 
thence  south  seventy-nine  and  three-fourths  (79%)  degrees  west  one 
hundred  (100)  feet  to  the  beginning. 

(7)  Lot  number  three  hundred  and  sixty-five  (365)  of  West  Park 
Place  Addition  to  the  City  of  Columbus,  as  numbered  and  delineated  on 
the  recorded  plat  of  said  addition  of  record  in  Plat  Book  No.  4,  pages 
264  et  seq.,  Franklin  County  Records,  being  the  same  premises  conveyed 
to  The  Glenwood  &  Greenlawn  Street  Railway  Company,  by  Thomas  E. 
Knauss  and  wife  by  deed,  dated  December  30,  1890,  and  recorded  in  Deed 
Book  of  said  County  219,  page  455,  to  which  deed  reference  is  here  made. 

(8)  The  South  one  half  of  Inlot  number  seven  hundred  and  four 
(S.  y2  of  No.  704),  as  numbered1  and  delineated  on  the  plat  of  South 
Columbus;  being  the  same  premises  conveyed  to  Frederick  Stehle  by 
Sheriff  in  partition,  by  deed  dated  the  6th  day  of  January,  1893. 

(9)  Lots  numbers  four  hundred  and  eighty-one  (481),  four  hundred 
and  eighty-two  (482),  four  hundred  and  eighty-three  (483),  four  hun¬ 
dred  and  eighty-four  (484),  four  hundred  and  eighty -five  (485),  four 
hundred  and  eighty-six  (486),  four  hundred  and  eighty-seven  (487), 
four  hundred  and  eighty-eight  (488),  four  hundred  and  eighty-nine 
(489),  four  hundred  and  ninety  (490),  four  hundred  and  ninety-one 
(491),  four  hundred  and  ninety-two  (492),  four  hundred  and  ninety- 
three  (493),  four  hundred  and  ninety-four  (494)  and  four  hundred  and 
ninety-five  (495)  of  West  Park  Addition  to  said  city  as  the  same  are 
numbered  and  delineated  on  the  recorded  plat  thereof,  of  record  in  Plat 
Book  4,  pages  264,  etc.,  Recorder’s  Office,  Franklin  County,  Ohio. 


West  Broad 
St.  Car  Barn. 


Automobile 
Repair  Shop. 


West  Broad 
St.  Car  Barn 
and  adjacent 
lots. 


20 


Oak  St.  Car 

Storage 

Barns. 


Oak  St.  Car 
Storage  Yard. 


Oak  St.  Car 
Storage  Yard. 


(10)  Part  of  Lot  number  fourteen  (14)  set  off  to  Celia  M.  Fanning 
in  the  partition  proceedings  of  Belle  M.  Miller  vs.  Eliza  L.  Joyce,  ct  al., 
in  the  Court  of  Common  Pleas,  Franklin  County,  Ohio,  as  recorded  in 
Complete  Record  96,  pages  515,  etc.  of  Franklin  County,  Ohio,  Records  ; 
said  part  of  said  lot  number  fourteen  (14)  hereby  conveyed  being  bounded 
and  described  as  follows: 

Beginning,  at  the  southeast  corner  of  said  lot  number  fourteen  (14)  ; 
thence  northerly  along  the  east  line  of  said  lot  two  hundred  and  eight 
and  70/100  (208.70)  feet  to  the  north  east  corner  of  said  lot;  thence 
westerly  along  the  north  line  of  said  lot  one  hundred  and  ninety-five  and 
90/100  (195.90)  feet  to  a  point  in  the  east  line  of  an  alley  twenty  feet 
wide;  thence  southerly  along  the  east  line  of  said  alley  to  a  point  in  the 
north  line  of  Oak  Street;  thence  easterly  along  the  north  line  of  Oak 
Street  to  the  place  of  beginning,  said  part  of  said  lot  number  fourteen 
hereby  conveyed  being  all  of  said  lot  excepting  that  part  thereof  here¬ 
tofore  dedicated  for  alley  purposes,  and  also  that  part  conveyed  to  The 
Columbus  Consolidated  Street  Railroad  Company  by  Richard  J.  Fanning 
and  Celia  M.  Fanning,  his  wife,  by  deed  dated  October  4th,  1898,  and 
recorded  in  Deed  Book  198,  at  page  375,  etc.  Franklin  County,  Ohio, 
records. 

(11)  Beginning  at  the  point  where  the  east  line  of  Rose  Avenue 
intersects  the  south  line  of  Oak  Street,  thence  east  with  the  south  line 
of  Oak  Street  two  hundred  and  twenty-four  (224)  feet  to  the  west  line 
of  a  twenty  (20)  foot  alley;  thence  south  with  the  west  line  of  said 
alley  one  hundred  and  fifty-three  (153)  feet  to  the  north  line  of  a  twenty 
(20)  foot  alley;  thence  west  with  the  north  line  of  said  alley  two 
hundred  and  twenty-four  (224)  feet  to  the  east  line  of  Rose  Avenue; 
thence  north  with  the  east  line  of  Rose  Avenue  one  hundred  and  fifty- 
three  (153)  feet  to  the  place  of  beginning. 

(12)  Beginning  at  a  point  in  the  south  line  of  Oak  Street,  two 
hundred  and  forty-four  (244)  feet  east  of  the  east  line  of  Rose  Avenue; 


21 


thence  east  along  the  south  line  of  Oak  Street  one  hundred  and  eighty- 
four  and  sixty  hundredths  (184. GO)  feet;  thence  south  along  the  west  line 
of  a  twenty  (20)  foot  alley  one  hundred  and  fifty-three  (153)  feet  to 
the  north  line  of  a  twenty  (20)  foot  alley  running  east  and  west  along 
the  south  line  of  Lot  No.  thirteen  (13),  thence  west  along  the  north  line 
of  said  twenty  (20)  foot  alley  one  hundred  and  eighty-four  and  sixty 
hundredths  (184.60)  feet  to  the  east  line  of  said  first  named  twenty  (20) 
foot  alley ;  thence  north  along  the  east  line  of  said  twenty  foot  alley  one 
hundred  and  fifty-three  (153)  feet  to  the  place  of  beginning. 

For  a  more  particular  description  of  said  premises  reference  is 
hereby  had  to  a  plat  marked  Exhibit  B,  in  Complete  Record,  Volume 
96,  page  526,  of  Common  Pleas  Court,  Franklin  County,  Ohio,  and  being 
the  same  premises  of  which  one-sixth  part  was  conveyed  by  J.  C.  Bower 
to  David  H.  Moore  by  deed  of  General  Warranty  dated  April  3,  1894,  and 
duly  recorded  in  Deed  Book  No.  258,  page  572,  Deed  Records,  Franklin 
County,  Ohio. 

(13)  Commencing  at  the  northwest  corner  of  North  High  Street  oientangy 

Park  Loop. 

and  North  Street,  being  the  southeast  corner  of  property  conveyed  to 
Henry  T.  Chittenden  by  Catherine  Ramlow  by  deed  dated  March  28, 

1889,  and  recorded  in  Deed  Book  211,  pages  238  to  240,  Recorder’s  Office, 

Franklin  County,  Ohio;  thence  north  along  the  west  side  of  High  Street 
one  hundred  (100)  feet  to  a  point;  thence  westwardly  parallel  with  the 
north  line  of  North  Street  one  hundred  and  fifty  (150)  feet  to  a  point; 
thence  southwardly  parallel  with  High  Street  one  hundred  (100)  feet  to 
the  north  side  of  North  Street;  thence  eastwardly  along  said  north  line  of 
North  Street  one  hundred  and  fifty  (150)  feet  to  the  place  of  beginning; 

Being  the  same  premises  conveyed  by  the  said  Henry  T.  Chittenden 
and  wife  to  the  said  Edward  J.  Farley  by  deed  dated  May  24,  1893,  and 
recorded  in  Volume  249,  page  542,  of  the  deed  records  of  said  Franklin 
County. 

(14)  A  right  of  way  for,  and  the  right  to  construct,  maintain  and  Right  of  way. 
operate,  a  double-track  street  railway  in  and  along  the  extension  of 


22 


Lots  adjoin 
ing  Milo 
Car  Barn. 


Merritt  St. 
Car  Barn  and 
Repair  Shop. 


Grant  Avenue,  from  Eleventh  Avenue  Northward  to  Chittenden  Avenue, 
in  the  City  of  Columbus,  Ohio,  as  said  right  of  way  and  right  are  more 
particularly  described  and  reserved  in  the  respective  deeds  of  Felix  A. 
Jacobs,  unmarried,  to  The  Columbus  Railway  Company,  Felix  A.  Jacobs, 
unmarried,  to  the  City  of  Columbus,  Ohio,  and  The  Columbus  Railway 
Company  to  the  City  of  Columbus,  Ohio,  dated  respectively,  October  30th, 
1912,  October  11th,  1912,  and  October  29th,  1912,  and  recorded  respect¬ 
ively,  in  Deed  Book  549,  page  226,  Deed  Book  505,  page  549  and  Deed 
Book  536,  page  514,  Recorder’s  Office,  Franklin  County,  Ohio,  said  deed 
first  mentioned  conveying  to  said  The  Columbus  Railway  Company  said 
right  of  way  and  right  over  and  in  the  portion  of  said  proposed  extension 
of  Grant  Avenue  owned  by  the  said  Felix  A.  Jacobs  and  said  two  deeds 
last  mentioned,  conveying  to  the  said  City  of  Columbus,  Ohio,  the  land 
comprising  said  proposed  extension  of  Grant  Avenue,  subject  to  said  right 
of  way  and  right,  reference  to  said  deeds  being  hereby  made  for  greater 
particularity. 

(15)  Lots  numbered  9,  108,  109,  110,  111,  112,  126,  127,  128,  129, 
150,  and  three  (3)  feet  off  of  the  south  side  of  Lot  No.  10,  in  Thomas  A. 
Simons,  Herman  Wirth,  Franklin  D.  Simons  and  Lafayette  Wildermuth’s 
Englewood  Addition  to  the  City  of  Columbus,  Ohio,  and  in  Marion  Town¬ 
ship,  as  the  same  are  known  and  delineated  on  the  recorded  plat  thereof 
in  Plat  Book  No.  4,  at  page  333,  in  the  Recorder's  Office  of  Franklin 
County,  Ohio. 

(16)  Also,  a  parcel  of  land  beginning  at  the  north-west  corner  of 
lot  No.  five  (5)  Karch  &  Lyons  subdivision,  being  the  southeast  corner 
of  High  Street  and  Merritt  Street,  running  thence  south  eighty-seven 
(87)  degrees  east  with  the  south  line  of  Merritt  Street,  six  hundred  and 
forty-six  and  fifty-seven  hundredths  (646.57)  feet  to  the  north-east  corner 
of  lot  No.  fifty-one  (51)  Karch  &  Lyons  subdivision;  thence  south  two 
(2)  degrees  and  fifty-three  (53)  minutes  west  with  the  east  line  of  said 
lot  No.  fifty-one  (51),  one  hundred  and  forty-seven  (147)  feet  to  the 
south  boundary  line  of  the  Karch  &  Lyons  subdivision  which  is  also  the 


23 


north  line  of  the  T.  &  O.  C.  Railway  Company’s  right-of-way;  thence 
north  eighty-seven  (87)  degrees  west  with  said  south  boundary  line 
of  said  subdivision  two  hundred  and  twenty-four  and  one  tenth  (224.1) 
feet  to  a  point;  thence  north-westerly  with  the  south  boundary  line  of 
Karch  &  Lyons  subdivision  one  hundred  and  thirty-eight  (138)  feet 
to  a  point;  thence  north-westerly  two  hundred  and  sixty-one  and  fifty- 
eight  hundredths  (261.58)  feet  to  the  south-west  corner  of  lot  No.  five 
(5)  Karch  &  Lyons  subdivision;  thence  north  two  (2)  degrees  and  thirty 
(30)  minutes  west  with  the  west  boundary  line  of  said  lot  No.  five  (5) 
forty  (40)vfeet  to  the  place  of  the  beginning;  said  property  being  lots 
numbers  five  (5),  six  (6),  twenty-three  (23),  twenty-four  (24),  twenty- 
five  (25),  twenty-six  (26),  twenty-seven  (27),  twenty-eight  (28),  twenty- 
nine  (29),  thirty  (30),  forty-seven  (47),  forty-eight  (48),  forty-nine 
(49),  fifty  (50),  fifty-one  (51)  and  all  of  the  streets  and  alleys  lying 
south  of  Merritt  Street  which  were  vacated  by  city  ordinance  number 
26663  passed  October  7th,  1912;  except  four  thousand  seven  hundred 
and  twenty-two  (4722)  square  feet  of  ground  deeded  by  The  Columbus 
Railway  Company  to  the  T.  &  O.  C.  Railway  Company  for  right-of-way 
by  deed  dated  November  14tli,  1912. 

(17)  A  parcel  of  land  beginning  at  the  point  of  intersection  of  the 
west  line  of  the  right  of  way  of  the  Cleveland,  Cincinnati,  Chicago  and 
St.  Louis  Railway  Company  with  the  north  line  of  Woodward  Avenue 
(now  Eleventh  Avenue)  ;  running  thence  westwardly  with  said  north  line 
of  Woodward  Avenue  (now  Eleventh  Avenue)  one  hundred  thirty-five 
and  nine  tenths  (135.9)  feet  to  a  stake;  thence  north  2  degrees  4  minutes 
east  two  hundred  eighty-nine  and  two  tenths  (2S9.2)  feet  to  a  stake  in 
the  south  line  of  Chittenden  Avenue;  thence  eastwardly  with  the  said 
south  line  of  Chittenden  Ave.  one  hundred  four  and  nine  tenths  (104.9) 
feet  more  or  less  to  a  point  in  the  said  west  line  of  the  said  right  of  way; 
thence  south  2  degrees  50  minutes  east  with  said  right  of  way  line  three 
hundred  and  twenty-two  (322)  feet  to  the  place  of  beginning;  excepting 
therefrom  the  following: 


Storage  for 
cars  for 
Fair  Ground 
service. 


24 


Parcel  “B”  Conveyed  by  The  Columbus  Railway,  Power  &  Light 
Company  to  the  City  of  Columbus  by  deed  dated  February  2,  1915,  and 
recorded  iu  Deed  Book  Vol.  581,  page  50  Recorder’s  Office  of  Franklin 
County,  Ohio,  and  particularly  described  as  follows : 

Beginning  at  the  point  of  intersection  of  the  west  right  of  way  line 
of  the  Cleveland,  Cincinnati,  Chicago  &  St.  Louis  Railway  Company  with 
the  north  line  of  Woodward  Avenue  (now  Eleventh  Avenue)  ;  running 
thence  westwardly  with  said  north  line  of  Woodward  Avenue  (now 
Eleventh  Avenue)  one  hundred  and  thirty-five  and  nine  tenths  (135.9) 
feet  to  a  stake;  thence  north  2  deg.  4  min.  E.  eleven  and  sixty-six  hun¬ 
dredths  (11.66)  feet,  thence  eastwardly  one  hundred  and  thirty-four  and 
thirty-eight  hundredths  (134.38)  feet  to  a  point  in  the  west  right  of  way 
line  of  the  Cleveland,  Cincinnati,  Chicago  &  St.  Louis  Railway  Company 
from  which  the  point  of  beginning  bears  south  2  deg.  50  min.  E.  thirteen 
and  forty-three  hundredths  (13.43)  feet,  thence  south  2  deg.  50  min. 
east  with  said  west  right  of  way  line  thirteen  and  forty-three  hundredths 
(13.43)  feet  to  the  place  of  beginning. 

Parcel  “C”  Conveyed  by  The  Columbus  Railway,  Power  &  Light 
Company  to  the  City  of  Columbus  by  deed  recorded  in  Deed  Book  Vol. 
620  page  425  Recorder’s  Office  of  Franklin  County,  Ohio  and  particularly 
described  as  follows : 

Beginning  at  the  northwest  corner  of  Parcel  “B”  described  above, 
running  thence  north  2  deg.  and  4  min.  E.  ten  (10)  feet  to  a  point;  thence 
southeastwardly  fourteen  and  fourteen  hundredths  (14.14)  feet  to  a 
point  in  the  north  line  of  Parcel  “B”  described  above;  thence  westwardly 
with  said  north  line  of  Parcel  “B”  ten  (10)  feet  to  the  place  of  beginning. 

The  above  described  property  being  the  remainder  of  the  property 
transferred  from  E.  K.  Stewart  and  wife  to  The  Columbus  Street  Rail¬ 
way  Company  by  deed  dated  December  5th,  1892  and  recorded  in  deed 
book  No.  243  Pages  39S  and  399  Franklin  County  records,  after  deducting 
therefrom  a  certain  portion  of  said  property  transferred  from  The 
Columbus  Railway  Company  to  the  City  of  Columbus  by  deed  dated 


25 


October  29th,  1912,  and  also  after  deducting  therefrom  Parcels  “B”  and 
“C”  described  above. 

(18)  A  parcel  of  land  being  a  part  of  Thomas  A.  Simons,  Herman 
Wirth  and  Franklin  D.  Simons  and  Lafayette  Wildermuth’s  Englewood 
Addition  to  the  said  City  of  Columbus,  Ohio,  and  bounded  and  described 
as  follows  : 

Beginning  at  the  southwest  corner  of  said  addition,  being  the  inter¬ 
section  of  the  east  property  line  of  Cleveland  Avenue  and  the  north 
property  line  of  First  Avenue;  thence  north  two  hundred  and  twenty- 
two  and  sixty  one-hundredths  (222. GO)  feet  to  the  south  line  of  Reynolds 
Avenue;  thence  with  the  south  line  of  Reynolds  Avenue  east  three  hun¬ 
dred  and  forty-two  (342)  feet  to  the  west  line  of  Lot  one  hundred 
and  twelve  (112),  thence  south  with  said  west  line  of  said  lot  one 
hundred  and  four  (104)  feet  to  the  south  line  of  said  lot;  thence  east 
with  the  said  south  line  of  said  lot.  twenty  (20)  feet;  thence  south  one 
hundred  and  eighteen  and  three-tenths  (118.3)  feet  to  the  north  line  of 
First  Avenue;  thence  with  said  north  line  of  said  First  Avenue  westerly 
three  hundred  and  sixty-two  (3G2)  feet  to  the  place  of  beginning,  con¬ 
taining  one  and  eighth-tenths  (1.8)  acres  more  or  less. 

Real  Estate  in  Franklin  County  Outside  of  Columbus. 

Third.  Also  the  following  parcels  of  land  now  owned  by  the  Com¬ 
pany  in  Franklin  County,  State  of  Ohio,  outside  of  the  City  of  Columbus, 
and  bounded  and  described  as  follows: 

(19)  A  parcel  or  strip  of  land  now  occupied  by  the  Com¬ 
pany’s  electric  railway,  and  being  a  part  of  a  tract  (known  as  the 
Huffman  tract)  of  land  in  section  No.  3,  Township  No.  2,  Range  No.  17, 
United  States  Military  Lands,  conveyed  by  Lewis  Huffman  and  wife  to 
Carry  W.  Meeker  and  others  by  deed  dated  April  20th,  1S93,  and  of 
record  in  Deed  Record  No,  251,  pages  37  ct  seq.,  Franklin  County 
Records,  being  also  a  part  of  the  tract  of  land  conveyed  by  Moses 
H.  Neil  and  Thomas  A.  Simons  and  their  respective  wives  to 


Milo  Car  Barn 
and  Sub¬ 
station. 


Real  Estate 
in  Franklin 
County  out¬ 
side  of 
Columbus. 


Right  of  Way 
East  of 

Minerva  Park. 


26 


Clinton  H.  Vance  by  deed  dated  October  1st,  1902,  and  recorded 
in  Deed  Book  No.  357,  pages  593  et  scq.,  Franklin  County  Records, 
said  parcel  or  strip  of  land  being  particularly  described  as  follows, 
to-wit :  Beginning  at  an  iron  pin  in  the  west  boundary  line  of 
the  Westerville  road  (formerly  the  Blendon  Plank  Road),  50  feet  wide, 
from  which  a  stone  at  the  intersection  of  said  west  boundary  line  with 
the  south  boundary  line  of  said  Huffman  tract  bears  south  1  degree  25 
minutes  west  560.6  feet;  running  thence  north  86  degrees  west  parallel 
to,  and  15  feet  from,  the  center  line  of  the  Columbus  and  Westerville 
electric  railway  3,239.4  feet  to  an  iron  pin  in  the  east  boundary  line  of 
Minerva  Park;  thence  north  4  degrees  15  minutes  east  with  said  east 
boundary  line  30  feet  to  an  iron  pin,  from  which  corner  No.  4  of  Minerva 
Park,  an  iron  pin  bears  north  4  degrees  15  minutes  east  15  feet;  thence 
south  86  degrees  east  parallel  to,  and  15  feet  from,  the  center  line  of 
said  railway  1381.5  feet  to  an  iron  pin;  thence  south  88  degrees  52  minutes 
east  60  feet  to  an  iron  pin ;  thence  south  86  degrees  east  205.8  feel  to  an 
iron  pin;  thence  south  83  degrees  8  minutes  east  60  feet  to  an  iron  pin; 
thence  south  86  degrees  east  parallel  to,  and  15  feet  from  the  center  line 
of  said  railway  1190  feet  to  an  iron  pin ;  thence  north  89  degrees  13  min¬ 
utes  east  60  feet  to  an  iron  pin ;  thence  south  86  degrees  east  97.9  feet  to  an 
iron  pin;  thence  north  87  degrees  22  minutes  east  60  feet  to  an  iron  pin; 
thence  north  79  degrees  20  minutes  east  50  feet  to  an  iron  pin;  thence 
north  61  degrees  10  minutes  east  50  feet  to  an  iron  pin ;  thence  north  39 
degrees  55  minutes  east  50  feet  to  an  iron  pin  in  the  west  boundary  line 
of  aforesaid  Westerville  road;  thence  south  1  degree  25  minutes  west 
with  said  west  boundary  line  122.3  feet  to  the  place  of  beginning,  con¬ 
taining  an  area  of  two  and  thirty  eight  one  hundredths  (2.38)  acres; 
excepting  therefrom  the  right  of  way  4  rods  wide,  conveyed  by  David 
Holton  and  wife  to  the  Cleveland,  Mt.  Vernon  and  Delaware  Railroad 
Company  (now  the  C.  A.  &  C.  R'y.  Co.)  by  deed  dated  January  22nd, 
1872,  and  of  record  in  Deed  Book  No.  Ill,  pages  8  et  seq.,  Franklin 
County  Records;  excepting  also  the  right  and  liberty  of  using  a  certain 


27 


road  or  way  8  feet  wide  passing  underneath  the  track  and  roadway  of 
the  Company. 

(20)  Part  of  the  land  heretofore  purchased  by  James  O.  Moore  and  Grandview 
Levi  Beardsley  of  John  McElvain  and  wife,  and  is  part  of  Beardsley's  Bank- 
share  set  off  in  partition  and  described  as  follows :  Beginning  at  a  stake 
in  the  southeast  .corner  of  the  tract  of  one  hundred  acres,  one  rood  and 
twelve  perches  as  first  described  in  deed  made  April  1,  1846,  by  Levi 
and  Joseph  A.  Beardsley  and  their  wives  to  John  Willard;  thence  south 
one  degree  west  ninety  six  poles  along  Thomas’  west  line  to  his  southwest 
corner;  thence  north  eighty-nine  degrees  west  along  the  north  line  of 
land  sold  by  Levi  Beardsley  to  Jacob  Zollinger  twenty-four  poles  to  a 
stake  in  Anderson’s  east  line;  thence  north  one  degree  east  ninety-six. 
poles  to  a  stake  planted  at  the  northeast  corner  of  Anderson’s  land; 
thence  south  eiglity-nine  degrees  east  twenty-four  poles  to  the  place  of 
beginning,  containing  fourteen  acres,  one  rood  and  twenty-four  perches 
of  land  more  or  less, — and  more  particularly  described  as  follows : 
Beginning  at  an  iron  pin  in  the  east  line  of  the  above  described  fourteen 
acres  one  rood  and  twenty-four  perches  of  land,  from  which  the  south 
east  corner  of  said  land  bears  south  one  degree  west  twenty-one  feet 
and  nine  tenths  of  a  foot,  running  thence  north  sixty  four  degrees  and 
twenty-five  minutes  west  parallel  to  and  twenty  feet  from  the  center 
line  of  Goodale  Street  four  hundred  and  forty-three  and  two  tenths  feet 
to  a  stake  in  the  west  line  of  the  above  described  fourteen  acres,  one 
rood  and  twenty-four  perches  of  land,  from  which  an  iron  pin  in  said 
west  line  bears  north  one  degree  east  twenty-one  feet  and  nine  tenths 
of  a  foot;  thence  north  one  degree  east  with  said  west  line  two  hundred 
and  sixteen  feet  to  an  iron  pin;  thence  south  sixty-four  degrees  and  fifty 
minutes  east  four  hundred  and  forty  and  three  tenths  feet  to  an  iron 
pin  in  the  east  line  of  the  above  described  tract  of  fourteen  acres  one 
rood  and  twenty  perches;  thence  south  one  degree  west  with  said  east 
line  two  hundred  and  twenty  feet  to  the  place  of  beginning,  containing 
two  acres  and  sixteen  thousandths  of  an  acre  (2.016  acres),  excepting 
therefrom  a  strip  or  parcel  of  land  forty  (40)  feet  in  width  off  of  the 


28 


Grandview 

Storage 

Yard. 


Grandview 

Storage 

Yard. 


west  end  of  said  tract  conveyed  by  the  Company  to  James  S.  Walcutt 
by  deed  of  record  in  Deed  Book  Volume  629,  page  SI,  Recorder’s  Office, 
Franklin  County,  Ohio. 

(21)  Part  of  Lot  Number  Three  (3)  of  a  division  of  the  Waterman 
Farm  so  called  which  was  conveyed  to  the  said  Alfred  G.  Waterman 
by  Mary  E.  Waterman  and  Emma  L.  Waterman  by  deed  recorded  in 
Deed  Book  No.  391  page  81  Recorder’s  Office  Franklin  County,  Ohio, 
as  said  Lot  Number  Three  (3)  is  numbered  and  delineated  upon  the 
recorded  plat  of  said  division,  of  record  in  Plat  Book  No.  8  page  2,  B. 
Recorder’s  Office  of  said  County,  and  more  particularly  bounded  and 
described  as  follows:  Beginning  at  a  bolt  in  the  East  line  of  said  Water¬ 
man  Farm  and  on  the  East  line  of  said  Lot  Number  Three  (3),  One 
Hundred  feet  and  Eight  tenths  of  a  foot  North  of  the  South  East  Corner 
of  said  Lot  Number  Three  (3)  ;  Thence  North  3 %  degrees  East  One 
Hundred  and  Forty  six  feet  and  fifty  five  hundredths  of  a  foot  to  the 
center  line  of  Goodale  Street;  Thence  North  Sixty-two  degrees  Thirty- 
five  minutes  West  along  the  Center  line  of  Goodale  Street  Nine  Hundred 
and  Ninety  five  feet  and  four  tenths  of  a  foot  to  the  west  line  of  said 
Waterman  Farm;  Thence  South  3%  degrees  West  Two  Hundred  and 
Sixty  five  feet  and  Sixty  five  hundredths  of  a  foot  to  an  iron  bolt:  Thence 
South  85 y2  degrees  East  Two  Hundred  and  Ninety  two  feet  to  a  stake : 
Thence  South  3%  degrees  West  Two  Hundred  feet  and  Forty  eight  hun¬ 
dredths  of  a  foot  to  a  bolt;  Thence  East  Parallel  with  the  North  line 
of  the  right  of  way  of  P.  C.  C.  &  St.  L.  Ry.  Co.  Six  Hundred  and  Twenty 
six  feet  and  five  tenths  of  a  foot  to  the  place  of  beginning,  containing 
1-81/100  acres  of  land  be  the  same  more  or  less,  the  same  being  in  Section 
12  Township  1,  Range  23  Refugee  Lands. 

(22)  The  following  parcel  of  land  deeded  to  Edward  Iv.  Stewart  by 
Alfred  G.  Waterman  and  Lolo  B.  Waterman,  husband  and  wife,  Novem¬ 
ber  7th,  1906,  to  be  held  in  trust  only  by  the  said  Edward  K.  Stewart 
for  the  use  and  benefit  of  The  Columbus  Railway  Company,  its  successors 
and  assigns:  part  of  Lot  Number  Three  (3)  of  a  division  of  the  Water- 


29 


man  Farm  so  called  which  was  conveyed  to  the  said  Alfred  G.  Waterman 
by  Mary  E.  Waterman  and  Emma  L.  Waterman  by  deed  recorded  in 
Deed  Book  No.  394  page  84  Recorder’s  Office  Franklin  County,  Ohio, 
as  said  Lot  Number  Three  (3)  is  numbered  and  delineated  upon  the 
recorded  plat  of  said  division,  of  record  in  Plat  Book  No.  8  page  2,  B. 
Recorder’s  Office  Franklin  County,  Ohio,  and  more  particularly  bounded 
and  described  as  follows:  Beginning  at  a  stake  (same  being  at  the 
South  East  corner  of  said  Lot  Number  Three  (3)  at  the  intersection 
of  the  East  Line  of  the  Waterman  Farm  and  the  North  line  of  the  right 
of  way  of  the  P.  C.  C.  &  St.  L.  Ry. ;  Thence  North  3 %  degrees  East 
One  Hundred  feet  and  Eight  tenths  of  a  foot;  Thence  Westerly  parallel 
with  the  North  line  of  said  right  of  way  Six  Hundred  and  Twenty  six 
feet  and  five  tenths  of  a  foot  to  a  bolt;  Thence  South  3%  degrees  West 
One  Hundred  feet  and  Eight  tenths  of  a  foot  to  a  stake  in  the  North 
line  of  the  right  of  way  of  said  railroad ;  Thence  South  79  degrees  East 
along  the  North  line  of  said  right  of  way  Six  Hundred  and  Twenty  six 
feet  and  five  tenths  of  a  foot  to  the  place  of  beginning,  containing 
1-43/100  acres  of  land,  be  the  same  more  or  less,  the  same  being  in  sec¬ 
tion  12  Township  1,  Range  23  Refugee  Lands. 

(22y2y  a.  Being  a  strip  of  land  60  ft.  wide,  30  ft.  on  either  side  of  a 
center  line  described  as  follows : 

Beginning  at  a  point  marked  by  a  gas  pipe  in  the  west  boundary 
line  of  Minerva  Park,  from  which  the  southwest  corner  of  said  park  is 
distant  553.54  ft.,  running  thence  northeasterly  on  a  curve,  the  arc  of  a 
circle,  of  which  the  said  west  boundary  line  is  tangent  at  the  point  of 
beginning,  the  radius  of  which  is  526.44  ft.,  a  distance  of  608.2  ft.  (66° 
and  12')  to  a  point  marked  by  a  gas  pipe;  thence  northeasterly  tangent 
to  said  curve  1167.1  ft.  with  the  center  line  of  the  existing  double  track 
street  railway  to  a  point  marked  by  a  gas  pipe;  thence  continuing  with 
the  center  line  of  said  existing  street  railway  by  a  curve  to  the  right 
through  an  angle  of  23°  and  29'  and  further  continuing  on  a  tangent 
with  the  center  line  of  said  double  track  street  railway  eastward,  a  total 
distance  of  1382.95  ft.  to  a  point;  thence  further  continuing  said  tangent 


Right  of  Way 
through 
Minerva  Park. 


30 


line  with  a  strip  100  ft.  wide,  being  50  ft.  on  either  side  thereof  eastward 
a  distance  of  423.6  ft.  to  a  point  in  the  east  property  line  of  Minerva 
Park,  located  4  ft.  7  in.  north  of  the  center  line  of  the  existing  single 
track ;  containing  an  area  of  5.21  acres. 


Right  of  Way 
through 
Minerva 
Park. 


b.  Beginning  in  the  north  line  of  the  aforesaid  described  right  of 
way  at  a  point  GO  ft.  west  of  the  water  tower,  running  thence  north  at 
right  angles  to  said  right  of  way  132  ft.;  thence  eastward  at  right  angles 
150  ft. ;  thence  south  at  right  angles  132  ft.  to  the  north  line  of  the  afore¬ 
said  right  of  way;  thence  following  said  north  line  westward  150  ft.  to 
the  point  of  beginning,  containing  an  area  of  .45  ae^es. 


All  the  foregoing  particularly  described  lots,  parcels  and  tracts 
of  land  being  the  same  which  The  Columbus  Railway  Company,  inter  alia 
by  two  deeds,  one  thereof,  dated  January  29th,  1914,  recorded  in  Frank¬ 
lin  County  Record  of  Deeds,  Volume  559,  pages  101,  et  seq.,  and  the  other 
dated  February  ,  1914,  recorded  in  Franklin  County  Record  of  Deeds, 
Volume  559  page  157,  granted  and  conveyed  unto  The  Columbus  Railway, 
Power  and  Light  Company  in  fee. 


Further 
Real  Estate 
in  Columbus. 


Further  Real  Estate  in  Columbus. 

Fourth.  The  lots,  parcels  and  tracts  of  land  in  the  City  of  Columbus 
and  County  of  Franklin,  State  of  Ohio,  bounded  and  described  as 
follows : 


Third  and 
Gay  Sts. 
Power 
Station. 


Third  and 
Gay  Sts. 
Power 
Station. 


(23)  Inlot  number  five  hundred  and  thirty-four  (534)  in  the  said 
City  of  Columbus,  as  the  same  is  designated  and  delineated  on  the  origi¬ 
nal  plat  of  said  city  as  the  same  appears  of  record  in  the  office  of  the 
Recorder  of  the  County  aforesaid  in  Record  of  deeds  Volume  F,  page  332. 

(24)  One  hundred  feet  (100  ft.)  in  length  from  East  to  West  by  the 
width  of  the  Inlot  from  North  to  South,  off  of  the  East  end  of  Inlot 
number  Five  hundred  and  thirty-five  (535)  as  designated  on  the  recorded 
plat  of  said  City  of  Columbus,  Ohio;  and  being  part  of  the  same  premises 
conveyed  to  said  Henry  F.  Booth  by  Jacob  R.  Peebles  and  wife,  by  deed 


31 


dated  July  27th,  1852  and  recorded  in  volume  48  page  101  of  the  Deed 
Records  of  said  County. 

(25)  One  hundred  and  twenty-five  (125)  feet  off  of  the  east  end  of 
inlot  number  Five  Hundred  and  thirty-six  (536)  in  the  City  of  Columbus, 
Ohio,  as  the  same  is  numbered  and  delineated  on  the  recorded  plat  thereof 
of  record  in  Deed  Book  “F”,  page  332,  Recorder’s  Office,  Franklin  County, 
Ohio,  and  situate  on  the  north  east  corner  of  Gay  and  Third  Streets  in 
said  city. 

Together  being  the  same  conveyed  by  The  Columbus  Edison  Company 
by  deed,  dated  January  29th,  1914,  recorded  in  Franklin  County  Record 
of  Deeds,  Volume  559,  pages  77,  ct  seq.,  unto  The  Columbus  Railway, 
Power  and  Light  Company,  inter  alia ,  in  fee. 

Further  Real  Estate  in  Columbus. 

Fifth.  The  following  more  particularly  described  real  estate,  sit¬ 
uate  in  the  County  of  Franklin,  State  of  Ohio,  and  City  of  Columbus : 

(26)  Lots  numbers  seven  (7),  eight  (8),  nine  (9),  ten  (10),  eleven 
(11),  twelve  (12),  thirteen  (13),  and  fourteen  (14),  in  the  Livingston 
Park  Addition  to  said  City,  as  the  same  are  numbered  and  delineated 
upon  the  amended  plat  thereof,  of  record  in  Plat  Book  number  4,  page 
300,  Recorder’s  Office,  Franklin  County,  Ohio. 

(27)  Lot  number  eighteen  (18),  in  B.  F.  Stage’s  Second  Addition  to 
said  city,  as  the  same  is  numbered  and  delineated  upon  the  recorded  plat 
thereof,  of  record  in  Plat  Book  number  2,  page  339,  Recorder’s  Office, 
Franklin  County,  Ohio. 

(28)  Lots  numbers  five  (5)  and  six  (6)  in  George  Hardy’s  Subdivision 
of  lots  in  the  City  of  Columbus,  Ohio,  as  the  same  are  numbered  and 
delineated  upon  the  recorded  plat  of  said  subdivision  of  record  in  Plat 
Book  number  5,  page  173,  Recorder’s  Office,  Franklin  County,  Ohio. 


Third  and 
Gay  Sts. 
Power 
Station. 


Further 
Real  Estate 
in  Columbus. 


Mound  and 
17th  Sts. 
Power 
Station. 


McMillan 
Ave.  Power 
Station. 


McMillan 
Ave.  Power 
Station. 


32 


Hot  Water 
Lines. 


Hot  Water  Lines. 

Sixth.  Also  the  following  hot  water  lines,  pipes  and  appliances 
located  in  and  upon  the  streets  and  alleys  of  the  said  city  of  Columbus, 
as  follows  : 

1.  In  17th  Street  from  Engler  Street  to  Capital  Street. 

2.  In  Bryden  Alley  from  17th  Street  to  Alley  east  of  17th  Street. 

3.  In  Bryden  Alley  from  17th  Street  to  Parsons  Avenue. 

4.  In  Walnut  Alley  from  Parsons  Avenue  to  Selina  Alley;  thence 

north  on  Selina  Alley  to  Chapel  Alley;  thence  w7est  on  Chapel 
Alley  to  Alley  wrest  of  Grant  Avenue. 

5.  In  New  Alley  from  17th  Street  east  to  22nd  Street. 

6.  In  New  Alley  from  17th  Street  vrest  to  Bryden  Place. 

7.  In  Gustavus  Lane  from  21st  Street  to  Parsons  Avenue. 

8.  In  Alley  East  of  Parsons  Avenue  from  Gustavus  Lane  to  New 

Alley. 

9.  In  Agate  Alley  from  Douglas  Street  to  22nd  Street. 

10.  In  Capital  Alley  from  rear  of  Lincoln  Hotel  east  to  Alley  east  of 

Champion  Avenue ;  thence  south  on  said  Alley  to  Alley  south 
of  Madison  Avenue  ;  thence  east  on  said  Alley  to  Alley  east 
of  Wilson  Avenue;  thence  south  on  said  Alley  to  Alley  north 
of  Oak  Street. 

11.  In  the  Alley  north  of  McMillan  Avenue  from  second  Alley  west 

of  High  'Street  to  Alley  east  of  Neil  Avenue. 

12.  In  Alley  east  of  Neil  Avenue  from  Alley  north  of  Eighth  Avenue 

south  to  Fifth  Avenue. 

13.  In  King  Avenue  from  Alley  east  of  Neil  Avenue  to  Alley  west  of 

Neil  Avenue. 

14.  In  Alley  west  of  Neil  Avenue  from  Alley  north  of  Ninth  Avenue 

south  to  Fifth  Avenue. 

15.  In  Alley  north  of  Fifth  Avenue  from  Alley  west  of  Neil  Avenue 

to  Pennsylvania  Avenue. 


33 


16.  In  Alley  north  of  Sixth  Avenue  from  Alley  west  of  Neil  Avenue 

to  point  west  of  Pennsylvania  Avenue. 

17.  In  Alley  north  of  King  Avenue  from  Alley  west  of  Neil  Avenue 

to  Alley  west  of  Pennsylvania  Avenue. 

18.  In  Alley  north  of  Eighth  Avenue  from  Alley  west  of  Neil  Avenue 

to  point  east  of  Michigan  Avenue. 

Together  being  the  same  which  The  Columbus  Light,  Heat  and  Power 
Company  by  deed  dated  February  Sth,  1915,  and  duly  recorded  in  the 
Recorder’s  Office  of  Franklin  County,  Ohio,  granted  and  conveyed  inter 
alia  unto  The  Columbus  Railway,  Power  and  Light  Company  in  fee. 


Trackage  Formerly  Owned  by  The  Central  Market  Street  Railway 

Company. 

Seventh.  The  trackage  formerly  owned  (except  for  the  substituted 
portion  hereinafter  described)  by  The  Central  Market  Street  Railway 
Company  in  the  City  of  Columbus  and  County  of  Franklin,  to  wit: 

1.  A  street  railroad  about  four  and  twenty-five  hundredths  (4.25) 
miles  in  length,  all  of  which  is  double  track  excepting  that  on  Parsons 
Avenue,  Barthman  Avenue,  Innis  Avenue  and  a  part  of  Fourth  Street 
between  Innis  Avenue  and  Merritt  Street  which  is  single  track,  the  above 
comprising  six  and  ninety-five  hundredths  (6.95)  miles  of  single  track 
equivalent,  on  the  following  route  in  said  City: 

In  Rich  Street  from  Third  Street  to  Fifth  Street;  in  Fifth  Street 
from  Rich  Street  to  Donaldson  Street;  in  and  across  Donaldson  Street 
and  Livingston  Avenue  to  Mohawk  Street;  in  Mohawk  Street  from 
Donaldson  Street  and  Livingston  Avenue  to  Reinhard  Avenue;  in  Rein- 
hard  Avenue  from  Mohawk  Street  to  Jaeger  Street;  in  Jaeger  Street  from 
Reinhard  Avenue  to  Hanford  Street;  in  Hanford  Street  from  Jaeger 
Street  to  Fourth  Street ;  in  Fourth  Street  from  Hanford  Street  to  Merritt 
Street  of  said  city ;  in  Barthman  Avenue  from  Fourth  Street  to  Parsons 
Avenue;  in  Innis  Avenue  from  Fourth  Street  to  Parsons  Avenue;  in 


Trackage 
formerly 
owned  by 
The  Central 
Market  Street 
Railway 
Company. 


34 


Further 
Real  Estate 
in  Columbus. 


The  Central 
Market  Street 
Railway  Com¬ 
pany  Power 
Station. 


Parsons  Avenue  from  Innis  Avenue  to  the  south  corporation  line  of 
said  City. 

2.  The  double  track  electric  street  railroad  about  three  and  seventy- 
four  (3.74)  miles  in  length,  in  said  City  of  Columbus,  on  the  following 
route. 

Beginning  at  the  corner  of  Third  and  Gay  Streets  therein;  thence 
north  on  Third  Street  to  Chestnut  Street;  thence  east  on  Chestnut  Street 
to  Fourth  Street ;  thence  north  on  Fourth  Street  to  Warren  Street ;  thence 
west  on  Warren  Street  to  Summit  Street;  thence  north  on  Summit  Street 
to  Hudson  Street  of  said  City;  that  portion  of  said  track  on  Chestnut 
and  Fourth  Streets  not  formerly  owned  by  The  Central  Market  Street 
Railway  Company  but  constructed  and  operated  by  said  Company  under 
a  contract  with  the  former  The  Columbus  Railway  Company  therefor. 

(The  portion  of  the  foregoing  trackage  hereby  conveyed  and  located, 
as  in  item  1  described,  in  Barthman  Avenue  between  Fourth  Street  and 
Parsons  Avenue,  was  substituted  by  The  Columbus  Railway,  Power  and 
Light  Company  for  similar  trackage  formerly  of  said  The  Central  Market 
Street  Railway  Company  located  in  Hosack  Street  between  Fourth  Street 
and  Parsons  Avenue.) 

Further  Real  Estate  in  Columbus. 

Eighth.  Also  the  following  tracts  or  parcels  of  land  situated  in  the 
City  of  Columbus,  County  of  Franklin,  and  State  of  Ohio,  separately 
bounded  and  described  as  follows,  to-wit: 

(29)  Beginning  at  a  stake  on  the  south  line  of  the  right  of  way  of  the 
Baltimore  &  Ohio  Railroad  Company  six  hundred  and  thirty-two  (G32) 
feet  distant  easterly  from  the  east  line  of  Central  Avenue;  thence  south 
sixteen  (16)  degrees  and  forty-five  (45)  minutes  east  three  hundred  and 
fifty-seven  (357)  feet;  thence  south  seventy-three  (73)  degrees  and  fifteen 
(15)  minutes  west  two  hundred  (200)  feet;  thence  three  hundred  and 
fifty  (350)  feet  to  a  point  on  the  south  right  of  way  line  of  the  Baltimore 
&  Ohio  Railroad  Company;  thence  north-easterly  with  said  right  of  way 


35 


line  eighty  (80)  feet  to  the  place  of  beginning,  containing  one  and 
twelve  hundredths  acres,  more  or  less,  the  same  being  the  tract  of  land 
conveyed  by  The  Columbus,  Grove  City  and  Southwestern  Railway  Com¬ 
pany  to  The  Central  Market  Street  Railway  Company  by  warranty  deed 
dated  December  22,  1902,  and  recorded  in  record  of  deeds,  volume  3G1, 
page  5G7,  of  the  Franklin  County  Recorder’s  office. 

Together  being  the  same  which  A.  E.  Locke,  et  u%.,  by  deed  dated 
March  1st,  1907,  and  duly  recorded  in  the  Recorder's  Office  of  Franklin 
County,  Ohio,  granted  and  conveyed  inter  alia  unto  the  Company  in  fee 
under  its  then  name  of  The  Columbus  Traction  Company,  now  The 
Columbus  Railway,  Power  and  Light  Company. 

Further  Real  Estate  in  Columbus. 

Also  the  following  parcels  of  land  situated  in  the  City  of  Columbus, 
County  of  Franklin  and  State  of  Ohio,  and  conveyed  to  the  Company 
by  divers  individuals  since  the  acquisition  by  it  of  the  parcels  herein¬ 
before  described : 

(30)  All  that  certain  piece  or  parcel  of  land  situate  in  the  City  of 
Columbus,  County  of  Franklin,  and  State  of  Ohio,  bounded  and  described 
as  follows: —  being  part  of  Lot  No.  Fifteen  (15)  of  Bartlett’s  Addition 
to  the  said  City  of  Columbus,  and  being  more  particularly  described  as 
follows :  Beginning  at  a  point  in  the  north  line  of  said  Lot  No.  Fifteen 
of  Bartlett’s  Addition  where  the  east  line  of  the  right  of  way  of  the 
Toledo  and  Ohio  Central  Railroad  Company  crosses  said  north  line  of 
said  Lot  No.  Fifteen  of  Bartlett’s  Addition;  thence  along  the  north  line 
of  said  lot  east  thirty  (30)  feet  to  a  point;  thence  southerly  on  a  line 
parallel  with  the  east  line  of  said  lot  thirty-seven  and  five-tenths  (37.5) 
feet  to  a  point;  thence  in  a  westerly  direction  on  a  line  parallel  with  the 
south  line  of  said  Lot  No.  Fifteen,  to  the  east  line  of  said  right  of  way  of 
the  Toledo  and  Ohio  Central  Railroad  Company;  thence  along  said  right 
of  way  in  a  northerly  direction  to  the  place  of  beginning;  being  the 
same  premises  conveyed  to  the  Company  by  Philippine  Luckhaupt  by 


Further 
Real  Estate 
In  Columbus. 


Whittier  and 
Front  Sts. 
Sub-station. 


36 


Mound  and 
Canal  Sts. 
Sub-station. 


Rich  St. 
Sub-station. 


deed  bearing  date  April  13,  1916,  and  recorded  in  said  Franklin  County 
in  Deed  Book  590,  page  562,  and  by  Philippine  Luckhaupt,  Trustee  under 
the  will  of  Adam  Luckhaupt,  deceased,  by  deed  bearing  date  April  6,  1917, 
and  intended  to  be  forthwith  recorded. 

(31)  Situated  in  the  County  of  Franklin,  State  of  Ohio  and  City  of 
Columbus,  and  being  Lots  Numbered  26  and  27  of  the  Subdivision  of 
the  Old  Penitentiary  Grounds  in  the  City  of  Columbus,  Ohio,  as  desig¬ 
nated  on  the  plat  of  the  re-survey  thereof,  of  record  in  Plat  Book  No.  1, 
pages  210  and  241,  Recorder’s  Office,  Franklin  County,  Ohio,  subject  to 
a  certain  lease  to  the  Independent  Towel  Supply  Company,  extending 
from  the  1st  day  of  August,  1915,  for  and  during  a  term  of  48  months 
thereafter  and  ending  on  July  31st,  1919,  with  the  privilege  to  said 
lessee  of  renewal  for  three  years  after  July  31st,  1919,  said  lease  being 
recorded  in  Lease  Record  No.  30,  page  500,  Recorder’s  Office,  Franklin 
County,  Ohio ;  excepting  also  a  condition  contained  in  the  deed  from 
Eli  Rosenthal  et  al  to  Abraham  Goldberg  for  said  lot,  stipulating  that 
said  premises  shall  never  be  used  for  the  purpose  of  the  wool-pulling 
business. 

Being  the  same  premises  conveyed  to  the  Company  by  Abraham  Gold¬ 
berg  and  Tony  Goldberg,  his  wife,  by  warranty  deed  dated  the  5th  day 
of  June,  1917,  and  recorded  in  Deed  Book  612,  page  599,  Recorder’s  Office, 
Franklin  County,  Ohio. 

(32)  Part  of  Inlots  Numbers  420  and  421  in  the  City  of  Columbus, 
Ohio,  more  particularly  described  as  follows: 

First  Parcel.  Beginning  at  the  northwest  corner  of  Inlot  No.  420 
in  said  City,  as  the  same  is  numbered  and  delineated  upon  the  recorded 
plat  thereof,  of  record  in  Deed  Book  “F”,  Page  332,  Recorder’s  Office, 
Fianklin  County,  Ohio;  thence  easterly  along  the  northerly  line  of  said 
inlot  thirty-seven  and  one-half  (371/2/)  feet  to  a  point;  thence  southerly 
along  a  line  parallel  with  and  thirty-seven  and  one-half  (371/2/)  feet 
distant  from  the  westerly  line  of  said  inlot,  seventy-five  (75')  feet  to  a 
point;  thence  westerly,  along  a  line  parallel  with  the  northerly  line  of  said 


37 


inlot,  thirty-seven  and  one-half  ( 373/2' )  feet  to  a  point  in  the  westerly  line 
of  said  inlot ;  thence  northerly,  along  the  westerly  line  of  said  inlot, 
seventy-five  (75')  feet  to  the  place  of  beginning. 

Second  Parcel.  Beginning  at  the  northeast  corner  of  inlot  No.  421 
in  said  City,  as  the  same  is  numbered  and  delineated  upon  the  recorded 
plat  thereof,  recorded  in  Plat  Book  “F”,  page  332,  Recorder’s  Office, 
Franklin  County,  Ohio;  thence  southerly  along  the  easterly  line  of  said 
inlot,  seventy-five  (75)  feet  to  a  point;  thence  westerly,  along  a  line 
parallel  with  and  seventy-five  (75')  feet  distant  from  said  northerly  line 
of  said  inlot,  forty-one  and  sixty-seven  one  hundredths  (41.67')  feet  to 
a  point;  thence  northerly  along  a  line  parallel  with  the  easterly  line  of 
said  inlot,  seventy-five  (75')  feet  to  a  point  in  the  northerly  line  of  said 
inlot ;  thence  easterly  along  the  northerly  line  of  said  inlot,  forty-one  and 
sixty-seven  one  hundredths  (41.67')  feet  to  the  place  of  beginning. 

The  deed  to  the  Company  for  the  foregoing  first  and  second  parcels 
contains  the  following  covenants  and  agreements  binding  upon  the 
grantee  and  its  successors  and  assigns : 

First.  That  no  building  or  structure  shall  be  erected  within  twelve 
(12')  feet  of  the  south  line  of  the  property  above  described. 

Second.  That  within  three  months  of  the  date  of  the  execution  of 
this  deed  it,  the  grantee,  will  open,  construct  and  pave  with  brick  a 
private  alley-way  at  least  twelve  (12')  feet  in  width  off  of  the  south  end 
of  said  premises;  that  said  alley-way  shall  conform  with  the  alley-way 
now  located  along  the  south  side  of  the  building  of  the  National  Biscuit 
Company  (located  on  inlot  No.  422)  and  shall  extend  easterly  and 
westerly  throughout  the  entire  southerly  frontage  of  the  premises  hereby 
conveyed. 

Third.  That  the  grantors,  their  heirs  and  assigns  shall  have  forever 
and  at  all  times  free  access  to  and  free  use  of  said  alley-way,  for  the 
purposes  of  ingress  to  and  egress  from  the  premises  adjacent  thereto  or 
adjacent  to  any  future  extension  of  said  alley. 


38 


Further 
Real  Estate 
in  Franklin 
County  out¬ 
side  of 
Columbus. 


Hague  Ave. 
Sub-station. 


Walnut  Power 
Station. 


Being  the  same  premises  conveyed  to  the  Company  by  Samuel  B. 
Hartman  and  wife,  by  Warranty  Deed  bearing  date  the  1st  day  of  August, 
1917,  and  recorded  in  Deed  Book  Volume  621,  page  283,  Recorder’s 
Office,  Franklin  County,  Ohio. 

Further  Real  Estate  in  Franklin  County  Outside  of  Columbus. 

Ninth.  Also  the  following  parcels  of  land  and  easements  situated  in 
the  County  of  Franklin  and  State  of  Ohio,  and  conveyed  to  the  Company 
by  divers  individuals  since  the  acquisition  by  it  of  parcels  (1)  to  (29) 
inclusive  herein  above  described  : 

(33)  All  that  certain  piece  or  parcel  of  land  situate  in  the  Town¬ 
ship  of  Franklin,  County  of  Franklin,  and  State  of  Ohio,  bounded  and 
described  as  follows:  Part  of  the  Stevenson  Survey  No.  two  thousand, 
six  hundred  and  sixty-eight  (266S),  in  the  Virginia  Military  District, 
bounded  as  follows:  Beginning  at  a  stake  or  stone  in  the  west  line  of 
Survey,  Northwest  corner  of  Timothy  Bigelow's  heirs,  and  running  from 
thence  along  said  survey  line  north  ten  degrees  forty-five  minutes  (10° 
45')  West  ten  and  fifteen-hundredths  (10.15)  poles  to  a  stake;  thence 
North  eighty-six  degrees  ten  minutes  (S6°  10')  East  seven  and  twenty- 
eight-hundredths  (7.28)  poles  to  a  stake  in  West  line  of  new  county  road; 
thence  along  same  South  thirteen  degrees  fifty  minutes  (13°  50')  eleven 
and  twenty-two-lmndredths  (11.22)  poles  to  stake  in  North  line  of 
Bigelow’s  heirs;  thence  along  same  South  eighty-four  degrees  (84°)  West 
nine  and  twelve-hundredths  (9.12)  poles  to  beginning,  containing  one-half 
of  an  acre  of  land;  being  same  premises  conveyed  to  the  Company  by 
Eva  Reed  Muncie  and  Nathan  P.  Muncie,  her  husband,  by  deed  bearing 
date  May  31,  1916,  and  recorded  in  said  Franklin  County  in  Deed  Book 
591,  page  524. 

(34)  All  that  piece  or  parcel  of  land  with  the  appurtenances 
thereto  belonging  situate  in  the  Township  of  Madison,  County  of  Frank¬ 
lin,  and  State  of  Ohio,  and  bounded  and  described  as  follows  :  Being  a 
part  of  the  ninety-nine  and  twenty-five-hundredths  (99.25)  acre  farm 


39 


now  or  late  of  Charles  J.  and  Sophia  Klamfoth,  lying  in  the  South  half 
of  Section  No.  Seventeen  (17)  of  Township  No.  Eleven  (11)  of  Range 
No.  Twenty-one  (21)  Congress  lands;  Being  eleven  and  seven  hundred 
forty-three-thousandths  acres  lying  east  of  the  middle  of  Big  Walnut 
Creek  and  North  of  the  right  of  way  of  the  Hocking  Valley  Railway,  and 
more  particularly  described  as  follows :  Commencing  at  an  iron  pin  in 
the  South  line  of  said  Section  No.  Seventeen,  said  pin  being. at  the  inter¬ 
section  of  the  West  line  of  the  lane  to  the  land  of  Herman  Braun  and 
said  Section  line  and  being  two  thousand  five  hundred  thirty-five  and 
six-tenths  (2535.6)  feet  distant  from  a  stone  at  the  Southeast  corner  of 
said  Section  No.  Seventeen,  thence  with  said  South  line  of  Section  No. 
Seventeen  North  eighty-six  degrees  twenty-eight  minutes  West  six  hun¬ 
dred  and  forty-tliree-hundredths  feet  to  a  point  (passing  a  stake  at  five 
hundred  twenty-eight  and  forty-seven-hundredths  feet  marking  the  north 
right  of  way  line  of  the  Hocking  Valley  Railway)  at  the  center  of  said 
right  of  way  and  main  track  as  now  located;  thence  with  the  center 
line  of  said  railway  right  of  way  north  forty-two  degrees  twenty-seven 
minutes  west  seven  hundred  fifty-nine  and  ten-hundredths  feet  to  an  iron 
pin;  thence  with  the  center  line  of  said  railway  right  of  way  on  a  two 
degree  curve  to  the  left  having  a  central  angle  of  seven  degrees  fifty-seven 
minutes  three  hundred  ninety-seven  and  fifty-two-hundredths  feet  on 
the  curve  to  an  iron  pin;  thence  with  the  center  line  of  said  railway  right 
of  way  north  fifty  degrees  twenty-four  minutes  west  one  hundred  seventy- 
seven  feet  more  or  less  to  the  middle  of  Big  Walnut  Creek;  thence  in  a 
northeasterly  direction  along  the  middle  of  said  Creek  and  with  its 
meanders  five  hundred  twenty-three  feet  more  or  less  to  a  point;  thence 
south  fifty-four  degrees  fourteen  minutes  east  three  hundred  twenty-seven 
and  eleven-hundredths  feet,  more  or  less  (passing  a  stake  at  one  hundred 
two  feet,  more  or  less)  ;  thence  south  eighty-one  degrees  forty-seven 
minutes  east  three  hundred  fifty-five  and  fifty-five-hundredths  feet  to  a 
stake;  thence  south  four  degrees  thirty-nine  minutes  west  eight  hundred 
fifty-three  and  nineteen-hundredths  feet  to  a  point,  said  point  being  one 
hundred  feet  distant  at  right  angles  from  the  center  line  of  said  railway 


40 


right  of  way  and  track;  thence  south  forty-two  degrees  twenty-seven 
minutes  east  parallel  to  and  one  hundred  feet  distant  and  at  right  angles 
from  the  center  line  of  said  railway  right  of  way  and  track  four  hundred 
nine  and  twenty-seven-hundredths  feet  to  a  point;  thence  south  eighty-six 
degrees  twenty-eight  minutes  east  parallel  to  and  thirty  feet  from  and 
at  right  angles  to  the  south  line  of  said  Section  Seventeen  four  hundred 
seventy-nine  and  fifty-one  one-hundredths  feet  to  a  stake  in  the  west  line 
of  lane  to  the  lands  of  Herman  Braun;  thence  south  eleven  degrees 
thirty-four  minutes  east  with  the  west  line  of  said  lane  thirty-one  and 
seven  hundredths  feet  to  the  place  of  beginning,  containing  thirteen  and 
two  hundred  sixty-nine  thousandths  acres  of  land,  but  excepting  there¬ 
from  one  and  five  hundred  twenty-six  thousandths  acres  included  in 
the  right  of  way  of  the  Hocking  Valley  Railway,  leaving  a  net  area  of 
eleven  and  seven  hundred  forty-three  thousandths  acres;  being  the  same 
premises  conveyed  to  the  Company  by  Charles  J.  Klamfoth  and  wife 
by  deed  bearing  date  February  3,  1917,  and  recorded  in  said  Franklin 
County  in  Deed  Book  607,  page  450. 


Walnut  Power 
Station. 


(35)  All  that  certain  piece  or  parcel  of  land  situate  in  the 
Township  of  Madison,  County  of  Franklin,  and  State  of  Ohio,  bounded 
and  described  as  follows :  Being  a  part  of  each  of  two  parcels  of  land 
late  owned  by  August  and  Mary  Ivundtz,  lying  in  the  southwest  quarter 
of  Section  No.  Seventeen  and  in  the  northwest  quarter  of  Section  No. 
Twenty  of  Township  No.  Eleven,  Range  No.  Twenty-one,  Congress  lands; 
Being  fifteen  and  eight  hundred  fifteen  thousandths  acres  lying  east  of 
the  middle  of  Big  Walnut  Creek  and  south  of  the  right  of  way  of  the 
Hocking  Valley  Railway  and  more  particularly  described  as  follows: 
Beginning  at  a  stone  in  the  south  line  of  the  aforesaid  Section  Seventeen, 
said  stone  being  one  thousand  three  hundred  sixty-six  and  fifty-five 
hundredths  feet  distant,  measured  along  the  said  south  line  of  Section 
Seventeen  in  a  westerly  direction  from  a  stone  at  the  south  east  corner 
of  the  southwest  quarter  of  said  Section  Seventeen ;  thence  north  eighty- 
six  degrees  twenty-eight  minutes  west  with  the  said  south  line  of  Section 


41 


Seventeen,  eight  hundred  forty  feet,  more  or  less,  passing  a  stake  at  six 
hundred  twenty  and  twelve  hundredths  feet,  to  the  middle  of  Big  Walnut 
Creek ;  thence  up  the  middle  of  said  Creek  as  it  meanders  in  a  north¬ 
easterly  direction,  one  thousand  two  hundred  nineteen  feet,  more  or  less, 
to  the  center  of  the  Hocking  Valley  Railway  one  hundred  feet  right  of 
way  ;  thence  south  fifty  degrees  twenty-four  minutes  east  with  the  center 
of  said  railway  right  of  way  one  hundred  seventy-seven  feet  more  or  less 
to  an  iron  pin;  thence  continuing  with  the  center  of  said  right  of  way, 
on  a  curve  of  two  degrees  no  minutes  to  the  right,  having  a  central  angle 
of  seven  degrees  fifty-seven  minutes  three  hundred  ninety-seven  and  fifty- 
two  hundredths  feet  to  an  iron  pin;  thence  south  forty-two  degrees 
twenty-seven  minutes  east  and  continuing  with  the  center  of  said  right 
of  way  thirteen  hundred  seventeen  and  twenty  one-hundredths  feet  to 
a  point,  where  the  North  and  South  half  section  line  of  Section  No.  20 
intersects  the  center  of  said  railway  right  of  way,  thence  south  three 
degrees  eighteen  minutes  West  along  said  half  section  line  ninety-four 
and  seventy-six  one-hundredths  feet  to  a  point  at  the  center  of  the  Bixby 
Road,  passing  a  stake  at  sixty-nine  and  eighty  one-hundredths  feet  mark¬ 
ing  the  Southerly  right  of  way  line  of  said  railway;  thence  South  eighty- 
two  degrees  twenty-one  minutes  West  along  the  center  of  said  Bixby 
Road  forty  feet  to  a  point;  thence  North  seventeen  degrees  thirty-nine 
minutes  West  forty-nine  and  forty-one  one-hundredths  feet  to  a  stake, 
said  stake  being  eighty  feet  distant  at  right  angles  from  the  center  of 
said  railway  right  of  way;  thence  North  forty-two  degrees  twenty-seven 
minutes  West,  parallel  to  and  eighty  feet  distant  at  right  angles  from 
the  center  of  said  railway  right  of  way  eight  hundred  sixty-three  and 
ninety-four  one-hundredths  feet  to  a  stake;  thence  south  eighty  degrees 
forty-four  minutes  west  seven  hundred  seven  and  fifteen  hundredths  feet 
to  the  place  of  beginning,  containing  seventeen  and  nine  hundred  fifty- 
seven  thousandths  acres  of  land,  but  excepting  therefrom  two  and  one 
hundred  sixty-two  thousandths  acres  included  in  the  right  of  way  of 
the  Hocking  Valley  Railway,  leaving  a  net  area  of  fifteen  and  seven 
hundred  ninety-five  thousandths  acres;  being  the  same  premises  con- 


42 


Pole  Line 
Right  of  Way. 


veyed  to  the  Company  by  August  Kundtz  and  wife  by  deed  bearing 
date  February  3,  1917,  and  recorded  in  said  Franklin  County  in 
Deed  Book  607,  page  452.  See  also  Deeds  recorded  in  Deed  Book  629, 
page  128  and  Deed  Book  622,  page  5S0,  in  the  Recorder’s  Office,  Franklin 
County,  Ohio. 

(36)  Situated  in  the  County  of  Franklin,  in  the  State  of  Ohio  and 
in  the  Township  of  Marion,  and  bounded  and  described  as  follows : 

Being  a  fifty  foot  strip  of  land  lying  north  of  and  abutting  on  the 
north  line  of  the  100  ft.  right  of  way  of  the  Hocking  V alley  Railway,  in 
the  S.  E.  1,4  of  Sec.  No.  11,  Township  4  N,  Range  22  W.,  Marion  Town¬ 
ship,  Franklin  County,  Ohio,  and  being  more  particularly  described  as 
follows : 

Beginning  at  an  iron  monument  on  the  north  right  of  way  line  of  the 
Ilocking  Valley  Railway,  said  monument  being  located  as  follows :  begin¬ 
ning  at  the  stone  monument  which  marks  the  S.  E.  Cor.  of  Sec.  No.  11, 
thence  with  the  south  line  of  said  section  N.  86°  22'  W.  45  ft.,  thence  N. 
67° — 57'  W.  710.8  ft.  to  the  above  mentioned  iron  monument. 

From  the  above  described  iron  monument  as  a  point  of  beginning, 
thence  running  in  an  easterly  direction  along  the  north  right  of  way  line 
of  the  Hocking  Valiev  Railwav  on  a  curve  of  523  feet  radius  three  hun- 
dred  nine  and  eight-tenths  feet  (309.8')  to  a  point;  thence  N.  3°  20'  E. 
fifty  and  nine-tenths  feet  (50.9')  to  a  point  of  intersection  with  a  curve 
of  473  feet  radius;  thence  in  a  westerly  direction  along  a  curve  of  473  feet 
radius  two  hundred  ninety  and  five-tenths  ft.  (290.5')  being  parallel  to 
and  fifty  feet  distant  from  the  northerly  right  of  way  line  of  the  Hocking 
Valley  Railway;  thence  No.  67°  57'  W.  six  hundred  four  and  seven  tenths 
feet  (604.7')  along  the  tangent  to  the  above  curve  parallel  to  and  fifty 
feet  distant  from  the  north  right  of  way  line  of  the  Hocking  Valley  Rail¬ 
way  to  a  point;  thence  in  a  westerly  direction  on  a  curve  to  the  right  of 
5629  ft.  radius,  one  thousand  four  hundred  ninety-nine  and  five  tenths 
feet  (1499.5')  parallel  to  and  fifty  feet  distant  from  the  north  right  of  way 
line  of  the  Hocking  Valley  Railway  to  an  intersection  with  the  North  and 


43 


South  half  section  line  of  Sec.  No.  11,  which  line  is  also  the  dividing  line 
between  the  lands  of  Charles  L.  Stroedter  et  al.  and  Roland  A.  Olicken- 
ger;  thence  S.  3°  40'  W.  sixty  and  one  tenth  feet  (60.1')  along  the  above- 
mentioned  half  section  line  to  an  intersection  with  the  north  right  of  way 
line  of  the  Hocking  Valley  Railway;  thence  along  the  north  right  of  way 
line  of  the  Hocking  Valley  Railway  in  an  easterly  direction  on  a  curve 
of  5G79  ft.  radius,  one  thousand  four  hundred  seventy-nine  and  five  tenths 
feet  (1479.5')  ;  thence  S.  67°  57'  E.  six  hundred  four  and  seven  tenths 
feet  (G04.7')  along  the  north  right  of  way  line  of  the  Hocking  Valley 
Railway  to  the  iron  monument,  the  point  of  beginning,  containing  two 
and  seven  hundred  forty-eight  thousandths  acres  (2.748  acres)  reserving 
to  Julia  L.  Stroedter,  Charles  L.  Stroedter  and  Anna  E.  Stroedter,  their 
heirs  and  assigns,  the  use  of  the  lanes,  crossing  said  fifty  foot  strip  of 
land,  for  the  sole  purpose,  however,  of  ingress  and  egress  to  and  from 
their  remaining  lands,  such  use,  however,  to  be  exercised  in  such  a  manner 
as  will  in  no  way  interfere  with  the  full  use  and  enjoyment  by  The  Colum¬ 
bus  Railway,  Power  &  Light  Company,  its  successors  and  assigns,  of  all 
of  the  hereinabove  described  land  so  sold  and  herein  conveyed  to  it. 

Being  the  same  premises  conveyed  to  the  Company  by  Julia  L. 
Stroedter,  Charles  L.  Stroedter  and  Anna  E.  Stroedter,  all  unmarried, 
by  warranty  deed,  dated  the  7th  day  of  May,  1917,  and  recorded  in 
Deed  Book  608,  page  531,  Recorder’s  Office,  Franklin  County,  Ohio. 

(37)  Situated  in  the  County  of  Franklin  in  the  State  of  Ohio  and 
the  Township  of  Marion,  and  bounded  and  described  as  follows : 

A  strip  of  land  fifteen  (15)  feet  in  width  from  the  south  side  of  the 
fifteen  acre  tract  of  land  of  the  grantors  and  extending  the  full  length 
east  and  west  of  said  fifteen  acre  tract,  and  described  as  follows: 

Beginning  at  a  point  in  the  east  line  of  Section  No.  4,  Range  22,  Con¬ 
gress  Lands  and  in  Smoky  Row  Road;  said  point  bears  N.  5°  30'  E. 
054.30  feet  distant  from  a  stone  at  the  S.E.  Corner  of  said  section;  thence 
N.  84°  39'  W.  1378.5  feet  to  an  iron  pin  on  the  east  line  of  Castle  Terrace 
Addition;  thence  N.  2°  .06'  E.  15.02  feet  along  the  East  line  of  Castle 


Pole  Line 
Right  of  Way. 


44 


Transmission 
Line  Tower 
Location. 


Grandview 

Yard 

Extension. 


Terrace  Addition  to  a  stake;  thence  S.  84°  39'  E.  1379.4  feet  to  the  east 
line  of  Section  No.  4  in  Smoky  Row  Road,  said  line  being  parallel  and  15 
feet  distant  at  right  angles  to  the  N.  84°  39'  W.  course;  thence  S.  5°  30' 
W.  15  feet  along  the  east  line  of  Sect.  4  in  Smoky  Row  Road  to  the  point 
of  beginning,  containing  acres  of  land.  Said  15  acre  tract  of  land 

is  off  the  east  end  of  a  tract  described  in  a  deed  from  Isaac  Shoaf  to 
Joseph  Shoaf,  dated  August  11th,  1864,  and  described  as  being  a  part  of 
Sections  9  and  10  of  Township  4,  Range  22,  Congress  Lands.  Said  15 
acre  tract  is  the  same  as  was  conveyed  to  Theodore  Olpp  by  Charles 
Blulim  and  Dora  Bluhm,  by  deed  dated  March  9tli,  1897,  and  recorded 
in  Deed  Book  294,  page  43,  Recorder’s  Office,  Franklin  County,  Ohio. 
Said  15  foot  strip  extends  along  Lewis  Hunt's  north  line. 

Being  the  same  premises  conveyed  to  the  Company  by  Theodore 
Olpp  and  Mary  Olpp,  his  wife,  by  warranty  deed  dated  the  26th  day 
of  July,  1917,  filed  for  record  on  the  27tli  day  of  July,  1917,  and  recorded 
in  Deed  Book  614,  page  65,  Recorder’s  Office,  Franklin  County,  Ohio. 

(38)  Situated  in  the  County  of  Franklin,  State  of  Ohio  and  Town¬ 
ship  of  Marion,  and  being  Lot  Number  thirteen  (13)  of  Lewis  and 
Weisand’s  South  High  Street  Addition  to  the  City  of  Columbus,  Ohio, 
as  the  same  is  numbered  and  delineated  upon  the  recorded  plat  thereof, 
of  record  in  Plat  Book  No.  13,  page  6,  Recorder’s  Office,  Franklin  County, 
Ohio,  subject  to  the  restriction  that  no  business  obnoxious  to  a  good 
residence  neighborhood  shall  be  conducted  on  said  lot,  said  restriction  to 
be  construed  as  running  with  said  real  estate. 

Being  the  same  premises  conveyed  to  the  Company  by  Thomas  E. 
Lewis  and  Nicholas  J.  Weisend,  both  unmarried,  by  warranty  deed 
dated  the  21st  day  of  April,  1917,  and  recorded  in  Deed  Book  612, 
page  120,  Recorder’s  Office  Franklin  County,  Ohio. 

(39)  Situated  in  the  County  of  Franklin,  State  of  Ohio  and  Town¬ 
ship  of  Franklin  and  being  a  part  of  Section  12,  Range  23,  Refugee 
Lands,  more  particularly  described  as  follows : 


45 


Beginning  at  an  iron  pin  at  the  intersection  of  the  west  line  of  the 
fourteen  (14)  acres,  one  (1)  rood  and  twenty-four  (24)  perches  of  land 
conveyed  by  John  Willard  and  wife  to  Jacob  Zollinger  by  deed  dated 
April  7th,  184G  and  recorded  in  Deed  Book  32,  page  4S3,  Recorder's 
Office,  Franklin  County,  Ohio,  and  the  south  line  of  Goodale  Street; 
thence  running  S.  GO  deg.  15  min.  E.,  with  the  said  line  of  Goodale  Street, 
435.3  feet  to  a  point;  thence  S.  8G  deg.  15  min.  E.  still  with  the  south  line 
of  Goodale  Street,  180.0  feet  to  a  point,  being  the  northeast  corner  of 
Lot  #6  as  the  same  is  numbered  and  delineated  upon  the  Plat  Book 
#8,  page  2A,  Recorder’s  Office,  Franklin  County,  Ohio;  thence  with  the 
east  line  of  said  Lot  #6,  S.  4  deg.  00  min.  W.  92.8  feet  to  the  intersection 
of  said  east  line  and  the  north  right  of  way  line  of  The  P.  C.  C.  &  St.  L. 
R.  R.,  35  feet  distant  from  the  center  line  of  the  north  main  track  of  said 
railroad  measured  northerly  at  right  angles  thereto;  thence,  with  the 
said  north  right  of  way  line  N.  78  deg.  30  min.  W.,  parallel  with  and  35 
feet  distant  from  the  said  center  line  of  the  north  main  track,  577.8  feet 
to  a  point,  being  the  southwest  corner  of  Lot  No.  5  as  shown  on  the  plat 
above  referred  to;  thence  with  the  west  line  of  said  Lot  No.  5,  4  deg. 
00  min.  E.  209.0  feet  to  the  point  of  beginning;  excepting  therefrom  a 
strip  17.2  feet  wide  off  the  east  end  of  said  described  tract,  and  containing 
1.539  acres. 

The  property  above  described  comprises  three  separate  tracts  of 
land  of  which  the  following  are  descriptions : 

First  Tract ,  Being  Lot.  No.  6  as  the  same  is  numbered  and  delineated 
upon  the  Plat  Book  8  page  2A,  Recorder’s  Office,  Franklin  County,  Ohio, 
and  being  more  particularly  described  in  a  deed  from  Grace  M.  Swain, 
et  al  to  Frank  H.  Zollinger  recorded  in  Deed  Book  391,  page  244,  Frank¬ 
lin  County,  Ohio,  records  containing  1  26/100  acres  of  land,  except 
a  strip  of  land  17.2  feet  wide  off  the  east  end  heretofore  sold  by  Frank 
EL  Zollinger  and  wife  to  John  T.  Adams,  by  deed  of  record  in  Deed  Book 
478,  page  71,  Recorder’s  Office,  Franklin  County,  Ohio. 

Second  Tract ,  Being  Lot  No.  5  as  the  same  is  numbered  and  delin¬ 
eated  upon  Plat  Book  8,  page  2A,  Recorder’s  Office,  Franklin  County, 


4G 


Llewellyn 
Ave.  Sub¬ 
station  Site. 


Coal  Storage 
adjacent  to 
Walnut  Power 
Station. 


Ohio,  and  being  more  particularly  described  in  the  Deed  from  Grace  M. 
Swain  to  the  said  Frank  H.  Zollinger  above  mentioned,  containing 
14/100  acres  of  land. 

Third  Tract ,  Commencing  at  a  point  in  the  sontli  line  of  Goodale 
Street  33  3/10  feet  (measured  along  the  south  line  of  Goodale  Street) 
east  from  an  iron  pipe  at  the  intersection  of  the  west  line  of  the  14  acres 
1  rood  and  24  perches  of  land  conveyed  by  John  Willard  and  wife  to 
Jacob  Zollinger  by  deed  dated  April  7th,  1840  and  recorded  in  Deed  Book 
32,  page  483  Recorder’s  Office,  Franklin  County,  Ohio,  and  the  south 
line  of  said  Goodale  Street;  thence  south  parallel  with  said  west  line 
198  34/100  feet  to  the  north  line  of  the  right  of  way  of  the  P.  C.  C.  &  St. 
L.  R.  R. ;  thence  east  along  the  last  mentioned  line  40  34/100  feet  to  a 
point;  thence  north  parallel  with  said  west  line  184  12/100  feet  to  the 
south  line  of  Goodale  Street;  thence  west  along  the  south  line  of  Goodale 
Street  44  4/10  feet  to  the  place  of  beginning,  containing  175/1000  acres 
of  land. 

Being  the  same  premises  conveyed  to  the  Company  by  Ralph  H. 
Richards,  by  warranty  deed  dated  the  7th  day  of  August,  1917,  and 
recorded  in  Deed  Book  Number  G29,  page  127,  Recorder’s  Office,  Franklin 
County,  Ohio. 

(40)  Situated  in  the  County  of  Franklin,  State  of  Ohio  and  Town¬ 
ship  of  Marion,  and  more  particularly  described  as  follows : 

Lots  Number  Five  (5)  and  Six  (0)  in  the  Cambria  Addition,  Marion 
Township,  Franklin  County,  Ohio,  as  the  same  are  numbered  and  delin¬ 
eated  upon  the  recorded  plat  thereof,  of  record  in  Plat  Book  7,  page  362, 
Recorder’s  Office,  Franklin  County,  Ohio. 

Being  the  same  premises  conveyed  to  the  Company  by  David  Jones 
ct  al.  by  Warranty  Deed  dated  the  21st  day  of  December,  1918,  and 
recorded  in  Deed  Book  Number  617,  page  301,  Recorder’s  Office,  Franklin 
County,  Ohio. 

(41)  Situated  in  the  County  of  Franklin,  State  of  Ohio,  and  Town¬ 
ship  of  Madison  and  being  a  part  of  the  northeast  quarter  of  Section  No. 


47 


20,  Township  11  Range  21,  Matthews  Survey,  bounded  and  described  as 
follows : 

Beginning  at  a  stone  at  the  northeast  corner  of  said  Section ;  thence 
with  the  east  line  of  said  Section  south  4  deg.  29  min.  West  1289.10  feet 
to  a  point;  thence  north  85  deg.  41  min.  West  272G.40  feet  (passing  an 
iron  pipe  at  20  ft.)  to  an  iron  pipe;  thence  north  4  deg.  .03  min.  East 
1297.50  feet,  in  part  along  the  east  line  of  the  premises  now  owned  by 
August  Kundtz  and  Mary  Kundtz,  to-  a  point  in  the  north  line  of  said 
Section,  the  same  being  the  northeast  corner  of  said  premises  of  August 
Kundtz  and  Mary  Kundtz;  thence  with  the  north  line  of  said  Section  south 
85  deg.  30  min.  East  2736.27  feet  to  the  place  of  beginning,  containing 
81.094  acres,  excepting  therefrom  2.992  acres  in  the  Hocking  Valley 
Railroad  Company’s  right  of  way,  leaving  78.102  acres  of  land. 

Being  the  same  premises  conveyed  to  the  Company  by  Edmund 
Spencer  and  wife,  by  deed  dated  the  24th  day  of  March,  1920. 

(42)  Situated  in  the  County  of  Franklin,  State  of  Ohio  and  Town¬ 
ship  of  Madison  and  being  a  part  of  the  northwest  quarter  of  Section 
No.  20,  Township  11,  Range  21,  Matthews  Survey,  Congress  Lands, 
bounded  and  described  as  follows : 

Beginning  at  the  northwest  corner  of  a  certain  tract  of  land  now 
owned  by  the  said  grantee  herein  and  formerly  owned  by  Frank  E. 
Wildermuth,  the  said  point  being  in  the  north  line  of  said  section 
north  85°  30'  west  2736.27  feet  from  a  stone  at  the  northeast  corner 
thereof;  thence  south  4°  03'  west,  along  the  west  line  of  the  said  premises 
of  the  grantee  herein  319  feet  to  a  point  in  the  east  right  of  way  line 
of  the  Hocking  Valley  Railroad  Company;  thence  with  said  east  right 
of  way  line  north  41°  42'  west  460.50  feet  to  a  point  in  the  north  line 
of  said  Section;  thence  with  said  north  line  south  85°  30'  East  329.40 
feet  to  the  place  of  beginning,  containing  1.206  acres  of  land. 

Being  the  same  premises  conveyed  to  the  Company  by  Edmund 
Spencer  and  wife,  by  Deed  dated  the  31st  day  of  March,  1920. 

(43)  Situated  in  the  County  of  Franklin,  State  of  Ohio  and  Town¬ 
ship  of  Madison  and  being  a  part  of  the  south  half  of  Section  Number 


Coal  Storage 
adjacent  to 
Walnut  Power 
Station. 


Walnut  Power 
Station. 


48 


seventeen  (17)  in  said  Madison  Township,  Franklin  County,  Ohio,  being 
in  Township  number  eleven  (11)  Range  twenty-one  Congress  lands,  and 
bounded  and  described  as  follows : 

Beginning  at  a  point  in  the  west  line  of  a  twenty  foot  strip  of  land 
conveyed  by  Charles  J.  Klamfoth  and  Sophia  H.  Klamfoth,  his  wife,  to 
Charles  Hann,  Trustee  by  deed  of  record  in  Deed  Book  Volume  452, 
page  370  Recorder’s  Office,  Franklin  County,  Ohio,  and  conveyed  by  said 
Charles  Hann,  Trustee  to  Herman  Braunn  Sr.  by  deed  of  record  in  Deed 
Book  Volume  452  Page  372  Recorder’s  Office,  Franklin  County,  Ohio, 
said  point  being  located  S.  11  degrees  34  min.  E.  31.07  ft.  north  of  the 
south  line  of  said  section  number  seventeen;  thence  with  the  west  line 
of  said  twenty  foot  strip  N.  10  deg.  51  min.  W.  70.43  feet  to  a  point; 
thence  with  the  west  line  of  said  twenty  foot  strip  N.  1  deg.  50  min.  E. 
1G89  ft.  to  the  north  end  of  said  strip,  it  being  also  in  the  north  line  of  a 
one  hundred  acre  farm  conveyed  by  John  L.  Chaney  and  James  K. 
Chaney  to  Charles  J.  Klamfoth  and  Sophia  H.  Klamfoth,  his  wife  by  deed 
of  record  in  Deed  Book  Volume  236  Page  24  Recorder’s  Office,  Franklin 
County,  Ohio ;  thence  with  the  north  line  of  said  one  hundred  acre  farm 
N.  87  deg.  W.  1271  feet  to  the  middle  of  Big  Walnut  Creek;  thence  S.  19 
deg.  W.  439.94  feet  with  the  middle  of  said  creek  to  a  point  in  the  north¬ 
west  corner  of  property  of  The  Columbus  Railway,  Power  and  Light  Com¬ 
pany  by  deed  of  record  in  Deed  Book  Volume  607  Page  450  Recorder’s 
Office,  Franklin  County,  Ohio;  thence  with  the  north  line  of  the  property 
of  The  Columbus  Railway,  Power  &  Light  Company  S.  54  Deg.  14  min. 
E.  327.11  feet  to  a  stake;  thence  S.  81  deg.  47  min.  E.  355.55  feet  to  a 
stake;  thence  S  4  deg.  39  min.  W.  853.19  feet;  thence  S.  42  deg.  27  min.  E. 
409.27  feet;  thence  S.  86  deg.  28  min.  E.  479.51  feet  to  a  point  in  the  west 
line  of  the  aforesaid  twenty  foot  strip  and  the  place  of  beginning  (ap¬ 
proximately  38  acres). 

Being  the  same  premises  conveyed  to  the  Company  by  Charles  J. 
Klamfoth  and  wife  by  warranty  deed  dated  the  6th  day  of  December, 
1920,  and  recorded  in  Deed  Book  Number  396,  page  259,  Recorder’s  Office, 
Franklin  County,  Ohio. 


49 


(44)  All  that  perpetual  right,  privilege  and  easement  granted 
to  the  Company  by  Walter  S.  Page  and  wife  by  deed  bearing 
date  January  16,  1917,  and  recorded  in  Franklin  County,  State  of  Ohio, 
in  Volume  11  of  Miscellaneous  Records,  page  618,  the  said  perpetual 
right,  privilege  and  easement  being  over  and  upon  the  following  described 
strip  or  parcel  of  land  situate  in  Madison  Township,  Franklin  County, 
State  of  Ohio,  bounded  and  described  as  follows:  A  strip  or  tract  of 
land  fifty  feet  in  width  throughout,  parallel  to  and  abutting  on  the  north 
right  of  way  line  of  the  Hocking  Valley  Railway  Company,  and  extending 
northwesterly  from  the  center  of  Big  Walnut  Creek  (which  is  the 
dividing  line  between  the  premises  of  the  grantors  and  the  premises  of 
Charles  J.  and  Sophia  Klamfoth)  in  the  southwest  quarter  of  Section 
Seventeen  of  said  Township,  to  the  center  of  the  township  (so  called 
Kilgore)  road,  which  is  the  west  line  of  Section  Eighteen  and  the  dividing 
line  between  the  premises  of  the  grantors  and  the  premises  of  J.  F.  Hensel 
and  Louis  Such. 

(45)  All  that  perpetual  right,  privilege  and  easement  granted  to 
the  Company  by  Walter  S.  Page  and  wife,  by  deed  bearing  date 
the  31st.  day  of  May,  1917,  and  recorded  in  Volume  12,  page  77,  of  the 
Miscellaneous  Records,  Recorder’s  Office,  Franklin  County,  Ohio,  the 
said  perpetual  right,  privilege  and  easement  being  over  and  upon  the 
following  described  strip  or  parcel  of  land : 

A  strip  or  tract  of  land  fifty  feet  in  width  throughout,  being  twenty- 
five  feet  on  each  side  of  a  center  line  located  as  follows: 

Situated  in  the  Township  of  Madison,  County  of  Franklin  and  State 
of  Ohio,  and  bounded  and  described  as  follows : 

Beginning  at  a  point  on  a  line  fifty  feet  distant  at  right  angles  and 
parallel  to  the  northerly  right  of  way  line  of  the  Hocking  Valley  Railway 
Company,  said  point  bearing  S.  68°  1'  E.  1429.94  feet  distant  from  the 
intersection  of  said  line  with  the  center  of  the  township  (so-called  Kil¬ 
gore)  Road,  which  is  also  the  west  line  of  Section  18  and  the  dividing 
line  between  Hamilton  and  Madison  Townships;  thence  N.  21°  59'  E..  at 


Transmission 
Line  Right 
of  Way. 


Transmission 
Line  Right 
of  Way. 


50 


Transmission 
and  Distribu¬ 
tion  Lines. 


right  angles  to  said  railway  right  of  way  2G27.2  feet  to  a  point  in  the 
center  of  the  east  and  West  D.  Taylor  Road,  which  is  also  the  north 
section  line  of  Section  IS,  and  the  dividing  line  between  the  premises  of 
the  grantors  and  Carl  and  Johanna  Raduege,  said  point  bears  N.  86°  31' 
W.  32.5  feet  along  said  Section  line  from  a  stone  located  at  the  inter¬ 
section  of  the  centers  of  the  North  and  South  D.  Taylor  Road  and  the 
East  and  West  D.  Taylor  Road. 


Transmission  and  Distribution  Lines. 

Tenth.  Also  all  of  the  overhead  and  underground  main  transmission 
lines  of  the  Company  including  those  located  and  extending  between  the 
following  termini,  to-wit: 

(1)  Between  its  Spring  Street  Station  and  its  Gay  Street  Station 

(2)  Between  its  Spring  Street  Station  and  its  Milo  Station. 

(3)  Between  its  Spring  Street  Station  and  its  Mound  Street  Station. 

(4)  Between  its  Spring  Street  Station  and  its  McMillen  Ave. 

Station. 

(5)  Between  its  Spring  Street  Station  and  its  Hague  Avenue  Sub 

Station. 

(6)  Between  its  Spring  Street  Station  and  its  Canal  Street  Sub 

Station. 

(7)  Between  its  Gay  Street  Station  and  its  Milo  Station. 

(8)  Between  its  Gay  Street  Station  and  its  Mound  Street  Station. 

(9)  Between  its  Gay  Street  Station  and  its  Rich  Street  Sub  Station. 

(10)  Between  its  Gay  Street  Station  and  its  Canal  Street  Sub  Station. 

(11)  Between  its  Milo  Station  and  itsi  McMillen  Avenue  Station. 

(12)  Between  its  Milo  Station  and  its  Jeffrey  Sub  Station. 

(13)  Between  its  Milo  Station  and  its  Minerva  Park  Sub  Station. 

(14)  Between  its  Milo  Station  and  its  Ralston  Sub  Station. 

(15)  Between  its  Milo  Station  and  its  Walnut  Station. 

(16)  Between  its  Mound  Street  Station  and  its  Merritt  Street  Sub 

**  Station. 


51 


(17)  Between  its  Mound  Street  Station  and  its  Canal  Street  Sub 
Station. 

(IS)  Between  its  Mound  Street  Station  and  its  Smoky  Row  Sub 
Station. 

(19)  Between  its  McMillen  Avenue  Station  and  its  Jeffrey  Sub 

Station. 

(20)  Between  its  Merritt  Street  Sub  Station  and  its  Smoky  Row  Sub 

Station. 

(21)  Between  its  Rich  Street  Sub  Station  and  its  Canal  Street  Sub 

Station. 

(22)  Between  its  Canal  St.  Sub  Station  and  its  Walnut  Station. 

(23)  Between  its  Milo  Station  and  its  Walnut  Station.  . 

(24)  Between  its  Smoky  Row  Sub  Station  and  its  Walnut  Station, 


together  with  all  of  the  Company’s  distribution  lines,  branches,  and 
extensions,  and  all  of  its  conduits,  ducts,  poles,  wires,  guys,  anchors, 
attachments,  appliances,  appurtenances,  easements,  rights  of  way  and 
other  rights  and  privileges,  whether  in  any  way  constituting  a  part  of, 
incident  to,  connected  with,  radiating  from  or  used  in  conjunction  or 
connection  with  any  or  all  of  the  foregoing  transmission  lines,  or 
other  wise,  and  wherever  located,  intending  hereby  to  include  all  and 
singular  the  transmission  and  distribution  systems  of  the  Company  and 
each  and  every  part  thereof,  of  whatever  kind  and  description  and 
whether  now  owned  or  hereafter  acquired  by  it. 


Eleventh.  Any  and  all  property  of  every  name  and  nature  which 
may,  from  time  to  time  hereafter,  by  delivery  or  writing  of  any  kind  be 
conveyed,  mortgaged,  pledged,  assigned  or  transferred  to  the  Trustee  as 
and  for  additional  security  hereunder,  by  any  one  on  behalf  of  the  Com¬ 
pany  or  with  its  written  consent;  and  the  Trustee  is  hereby  authorized 
to  receive  any  and  all  such  property  at  any  and  all  times  and  to  hold  and 
apply  the  same  in  accordance  with  the  terms  and  conditions  of  this 
Indenture. 


Property 
transferred 
by  any  one 
on  behalf  of 
the  Company. 


52 


Excepted 

Properties. 


Excepting  and  reserving,  however,  from  the  operation  of  this  Inden¬ 
ture  all  the  following  particularly  described  properties  to-wit : 

A  1.  The  lot,  parcel  or  tract  of  land  situate  in  the  County  of 
Franklin,  in  the  State  of  Ohio  and  in  the  Township  of  Marion,  bounded 
and  described  as  follows: 

Being  a  part  of  the  Southwest  Quarter  of  Section  Number  9,  Town¬ 
ship  4,  Range  22,  Mathew’s  Survey  Congress  lands :  beginning  at  a  point 
in  the  center  line  of  the  Columbus  and  Chillicothe  Turnpike  and  at  the 
Northeast  corner  of  Charles  Bluhm’s  land;  thence  with  the  north  line 
of  said  Bluhm’s  land  North  eighty-five  degrees  twenty-eight  minutes 
West  seven  hundred  and  seventy-one  feet  to  a  stake,  corner  of  said 
Bluhm’s  land ;  thence  South  three  degrees  forty  minutes  West  thirty-one 
and  sixty-five  one-hundredths  feet  to  a  stake,  another  of  said  Bluhm’s 
corners;  thence  South  eighty-eight  degrees  West  (passing  the  center  line 
of  the  Columbus  Feeder  of  the  Ohio  Canal  at  six  hundred  and  sixty-six 
feet)  seven  hundred  and  eighty-seven  feet  to  a  stake  at  the  Northwest 
corner  of  said  Charles  Bluhm’s  land  and  on  the  east  bank  of  the  Scioto 
River;  thence  up  said  River  with  the  meanders  thereof  and  along  the 
bank  North  fourteen  degrees  three  minutes  East  four  hundred  and 
thirty-eight  feet;  thence  North  twelve  degrees  forty-one  minutes  East 
two  hundred  and  twenty-six  and  fifty  one-hundredths  feet  to  a  stake; 
thence  through  said  John  Buechner’s  land  South  eighty-eight  degrees 
fourteen  minutes  East  (passing  the  center  line  of  said  canal  at  thirty- 
six  feet)  two  hundred  and  eighteen  feet  to  an  iron  pin;  thence  South 
five  degrees  one  minute  West  one  hundred  and  forty-six  and  seventy-five 
one-hundredths  feet  to  an  iron  pin ;  thence  South  eighty-four  degrees 
fifty-nine  minutes  East  twelve  hundred  and  seven  feet  to  the  center  line 
of  said  Columbus  and  Chillicothe  Turnpike ;  thence  along  the  center  line 
of  said  Turnpike  South  no  degrees  eighteen  minutes  West  three  hundred 
and  seventy-one  and  fifty  one-hundredths  feet  to  the  beginning,  containing 
fourteen  and  ninety-six  one-hundredths  acres  of  land  of  which  one  and 
three  one-hundredths  acres  lies  within  the  bounds  of  said  canal  leaving 
a  net  amount  of  thirteen  and  ninety-three  one-liundredths  acres  of  land. 


53 


The  premises  hereby  excepted  are  a  part  of  the  tract  of  land  con¬ 
veyed  to  John  Buechner  by  Caroline  and  Andrew  Hahn  by  deed  dated 
October  1st,  1902,  and  recorded  in  Deed  Book  No.  357,  page  486,  in  the 
Recorder’s  Office,  Franklin  County,  Ohio; 

And  being  the  same  premises  conveyed  by  John  Buechner  and  Alice 
M.  Buechner  to  Alfred  Kunz  by  deed  dated  February  3rd,  1910,  and 
recorded  in  Deed  Book  No.  496,  page  280,  Recorder’s  Office,  Franklin 
County,  Ohio. 

And  being  the  same  premises  which  Elmore  D.  Putnam  and  wife, 
by  deed  dated  February  13th,  1914,  and  duly  recorded  in  the  Franklin 
County,  Ohio,  Record  of  Deeds,  granted  and  conveyed  unto  The  Columbus 
Railway,  Power  &  Light  Company  in  fee. 

A  2.  Commencing  at  intersection  of  West  Side  of  Cleveland, 
Cincinnati,  Chicago  &  St.  Louis  Railway  with  South  Side  of  Woodward 
Avenue,  now  Eleventh  (11th)  Avenue;  thence  West  with  South  side  of 
Eleventh  (11th)  Avenue  one  hundred  and  forty  and  eight-tenths  (140.8) 
feet  to  south-east  corner  of  Eleventh  (lltli)  Avenue  and  Reis  Avenue, 
now  Grant  Avenue;  thence  south  along  the  east  side  of  Grant  Avenue 
one  hundred  and  thirty-five  (135)  feet  to  a  point;  thence  easterly  on  a 
line  parallel  with  the  south  line  of  Eleventh  (lltli)  Avenue  to  the  west 
line  of  Right  of  Way  of  the  C.  C.  C.  &  St.  L.  Railway  Co.;  thence  north¬ 
erly  with  said  west  line  of  right  of  way  to  the  place  of  beginning,  being 
part  of  lot  number  seven  (7)  Stevenson’s  Heirs  Sub-division  of  quarter 
township  four  (4),  township  one  (1),  range  eighteen  (18)  U.  S.  M.  L. 
The  same  being  the  property  conveyed  by  Felix  A.  Jacobs  to  Richard 
Emory  by  warranty  deed  dated  September  15, 1903  and  recorded  in  record 
of  deeds,  volume  374,  page  498  of  Franklin  County  Recorder’s  Office. 

A  3.  Beginning  at  a  point  in  the  east  line  of  Grant  Avenue,  one 
hundred  and  thirty-five  (135)  feet  south  of  Eleventh  Avenue;  thence 
easterly  on  a  line  parallel  with  the  south  line  of  Eleventh  Avenue,  to  the 
west  line  of  Right  of  Way  of  the  C.  C.  C.  &  St.  L.  Railway  Co.;  thence 


54 


southerly  along  said  Right  of  Way  fifteen  and  one-tenth  (15.1)  feet, 
more  or  less,  to  the  north  line  of  a  tract  of  land,  sold  to  Robert  D.  Wood 
and  William  E.  Bodin,  by  deed  dated  March  26th,  1901 ;  thence  west  with 
said  north  line  to  the  east  line  of  Grant  Avenue;  thence  north  with  the 
east  line  of  Grant  Avenue  fifteen  (15)  feet  to  the  place  of  beginning, 
being  a  part  of  lot  number  seven  (7)  Stevenson’s  Heir’s  Sub-division  of 
quarter  township  four  (4),  township  one  (1),  range  eighteen  (18)  U.  S. 
M.  L.,  except  the  right  to  use  the  sewer  running  lengthwise  through  this 
track  jointly  with  the  owner  of  the  tract  of  land  adjoining  on  the  south 
thereof. 

Said  tract  is  the  same  which  was  conveyed  by  Felix  A.  Jacobs  to 
Richard  Emory  by  quit-claim  deed  dated  September,  1903  and  recorded 
in  record  of  deeds,  volume  374,  page  496,  of  Franklin  County  Recorder’s 
Office. 

A  4.  Lot  number  nineteen  (19),  of  George  Williams’  Amended  Sub¬ 
division  of  his  North  wood  Heights  Addition,  as  the  same  is  designated 
and  delineated  on  the  recorded  plat  thereof  of  record  in  Plat  Book  No.  2, 
page  270,  Franklin  County  Records. 

A  5.  Twelve  (12)  feet  off  the  North  side  of  Lot  No.  27,  of  A.  L. 
Parker’s  Second  Subdivision  of  part  of  Lot  number  Five  (5)  Stevenson’s 
Heirs  Subdivision  in  Section  number  Four  (4),  Township  One  (1), 
Range  eighteen  (18),  U.  S.  M.  Lands. 

See  Plat  Book  No.  3,  Page  113  Recorder’s  Office,  Franklin  County, 
Ohio. 

A  6.  Thirty-five  and  seven-hundredths  (35.07)  feet,  more  or  less, 
off  the  South  side  of  lot  number  Twenty-eight  (28)  of  A.  L.  Parker’s 
Second  Subdivision  of  part  of  lot  number  Five  (5)  Stevenson's  Heirs 
Subdivision  in  Section  No.  4,  Township  1,  Range  IS  U.  S.  M.  Lands. 
See  Plat  Book  No.  3  Page  113,  Recorder’s  Office,  Franklin  County,  Ohio. 

A  7.  Lot  number  Forty-five  (45)  of  A.  L.  Parker’s  Second  Sub¬ 
division  of  part  of  Lot  number  Five  (5)  in  Stevenson’s  Heirs  Sub¬ 
division  in  Section  No.  4,  Township  1,  Range  18,  U.  S.  M.  Lands,  as  the 


55 


same  is  numbered  and  delineated  upon  the  Recorded  Plat  of  said  Parker’s 
Second  Subdivision,  of  record  in  Plat  Book  No.  3,  Page  113,  Recorder’s 
Office,  Franklin  County,  Ohio. 

AS.  Thirty-five  (35)  feet  off  the  south  side  of  Parcel  “C”  on  the 
plat  marked  Exhibit  “X”,  attached  to  the  report  of  the  Commissioners 
in  cause  No.  35066,  Complete  Record  178,  page  423,  in  the  Court  of 
Common  Pleas  in  said  Franklin  County,  and  being  part  of  lots  Four  and 
five  of  Stevenson’s  Heirs  Subdivision  of  Section  4,  Township  1,  Range  18, 
United  States  Military  Lands, 

A  9.  A  parcel  of  land  situate  in  the  township  of  Blendon,  village  of 
Westerville,  Franklin  County,  Ohio,  and  being  a  part  of  quarter  sec¬ 
tion  No.  2,  township  No.  2,  range  No.  17,  United  States  Military  Lands; 
beginning  at  a  stone  in  the  line  between  the  land  owned  by  Thomas 
Ingalls  and  William  Sharp  at  a  point  twelve  (12)  rods  and  nineteen 
(19)  links  south  of  a  willow  tree  standing  in  the  county  line;  thence 
east  fifteen  (15)  rods  and  one  (1)  link;  thence  north  ten  (10)  rods; 
thence  south  seventy-eight  (78)  degrees  thirty-four  (34)  minutes  west 
fourteen  (14)  rods  and  seventeen  (17)  links  to  a  point  six  (6)  rods  south 
of  the  above  mentioned  willow  tree;  thence  south  six  (6)  rods  and  nine¬ 
teen  (19)  links  to  the  place  of  beginning,  containing  126  perches  of  land. 

A  10.  A  parcel  of  land,  being  situate  in  Blendon  Township,  Franklin 
County,  Ohio,  and  being  a  part  of  section  3,  township  2,  range  17,  United 
States  Military  Lands,  and  being  part  of  the  same  premises  conveyed 
by  Lewis  Huffman  and  wife  to  Garry  W.  Meeker,  Moses  H.  Neil  and 
Thomas  A.  Simons  by  deed  dated  April  20,  1893,  and  of  record  in  Deed 
Book  251,  pages  37  and  38  and  bounded  and  described  as  follows :  Begin¬ 
ning  at  a  point  in  the  west  line  of  said  section,  southwest  corner  of  said 
Huffman  tract  and  northwest  corner  of  tract  of  land  conveyed  by  Mary 
Electa  and  Maxwell  P.  Innis  to  Thomas  A.  Simons  by  deed  dated  June 
6,  1895;  thence  with  the  line  between  said  Huffman  and  Innis  tracts 
south  S7  degrees  29  minutes  east  3170  feet,  thence  north  2  degrees  40 
minutes  east  606  feet  to  a  point  in  the  north  line  of  a  60  foot  road ;  thence 


56 


with  the  north  line  of  said  road  north  87  degrees  29  minutes  east  70 
feet;  thence  north  2  degrees  40  minutes  east  546  feet  to  the  north  line 
of  said  Huffman  tract  thence  with  the  north  line  of  said  Huffman  tract 
north  87  degrees  22  minutes  west  3103  feet  to  the  west  line  of  said  section, 
northwest  corner  of  said  Huffman  tract;  thence  with  said  section  line 
south  2  degrees  31  minutes  west  1157.6  feet  to  the  place  of  beginning, 
containing  83.19  acres ;  but  not  including  in  this  exception  A  10  the 
right  of  way  and  sub-station  property  heretofore  conveyed  to  the  Trustee 
as  parcels  numbers  (22 and  (221/oh)  respectively. 

A  11.  A  parcel  of  land  being  in  Blendon  Township,  Franklin  County, 
Ohio,  and  being  a  part  of  section  3,  township  2,  range  17,  United  States 
Military  Lands,  and  parts  of  two  tracts  of  land  conveyed  to  Thomas  A. 
Simons  by  Mary  Electa  and  Maxwell  P.  Innis  and  by  Emma  and  Clarence 
B.  Osborn,  both  of  said  conveyances  being  dated  June  6,  1895:  Beginning 
at  a  point  in  the  west  line  of  said  section,  northwest  corner  of  said  Innis 
tract  and  south-west  corner  of  a  tract  of  land  conveyed  by  Lewis  Huffman 
and  wife  to  Garry  W.  Meeker,  Moses  H.  Neil  and  Thomas  A.  Simons 
by  deed  dated  April  20,  1893;  thence  with  the  north  line  of  said  Innis 
tract  and  south  line  of  said  Huffman  tract  south  87  degrees  29  minutes 
east  3100  feet;  thence  south  2  degrees  40  minutes  west  1030  feet  to  the 
south  line  of  said  Osborn  tract ;  thence  with  the  south  line  of  said  Osborn 
tract  north  87  degrees  31  minutes  west  3103  feet  to  an  iron  pin  in  the 
west  line  of  said  section  and  southwest  corner  of  said  Osborn  tract; 
thence  with  the  west  line  of  said  section  north  2  degrees  49  minutes  east 
1028  feet  to  the  place  of  beginning,  containing  73.26  acres,  with  all  the 
title,  appurtenances,  and  privileges  thereunto  belonging;  but  not 
including  in  this  exception  A  11,  the  right  of  way  and  sub-station  prop¬ 
erty  heretofore  conveyed  to  the  Trustee  as  parcels  numbers  (221/2«)  and 
(22y2b)  respectively. 

A 12.  Inlot  No.  Two  (2),  Township  No.  two  (2)  of  Range  17, 
U.  S.  M.  Lands  and  bounded  and  described  as  follows : 

Being  a  part  of  Lot  No.  three  (3)  of  the  subdivision  of  the  South 
one  third  of  the  Wm.  Cooper  farm  among  the  Dill  heirs  as  shown  on  Plat 
Book  No.  3  Page  No.  243,  Records  in  Franklin  County  Recorders  Office 


57 


The  said  part  of  said  Lot  No.  3  hereby  conveyed  is  particularly 
described  and  bounded  as  follows  to  wit : 

Beginning  in  the  center  of  the  public  road  leading  from  Blenden 
Corners  to  Westerville,  on  the  south  line  of  the  Cooper  farm,  running 
thence  east  on  said  south  line  one  hundred  and  thirty  (130)  feet;  thence 
north  fifty  (50)  feet;  thence  west  (on  a  parallel  line)  one  hundred  and 
thirty  (130)  feet  to  the  center  of  said  road;  thence  south  with  the  center 
of  said  road  fifty  (50)  feet  to  the  place  of  beginning,  containing  15/100 
acres,  said  premises  being  a  part  of  the  premises  conveyed  from  Mar- 
sella  Gould  to  Frank  P.  Dill  by  Warranty  deed  dated  November  15th, 

1S8S  and  of  record  in  deed  book  No.  199  pages  248-249  and  250  Records 
in  Franklin  County  Recorder’s  Office. 

A  13.  Lot  number  fifteen  (15),  in  B.  F.  Stage’s  Second  Addition  to 
said  city,  as  the  same  is  numbered  and  delineated  upon  the  recorded 
plat  thereof,  of  record  in  Plat  Book  number  2,  page  339,  Recorder’s 
Office,  Franklin  County,  Ohio. 

A 14.  Situated  in  the  County  of  Franklin,  State  of  Ohio  and  Town¬ 
ship  of  Mifflin,  more  particularly  described  as  follows : 

Being  Lot  #230  of  the  Cassady  Fifth  Avenue  Addition  as  the  same 
is  numbered  and  delineated  upon  the  recorded  plat  thereof  of  record  in 
Plat  Book  No.  5,  Pages  314,  315,  316,  317  and  318  of  the  Recorder’s  Office, 
Franklin  County,  Ohio. 

Being  the  same  premises  conveyed  to  the  Company  by  Zigmund 
Sabo  and  wife  by  Warranty  Deed  dated  the  13th  day  of  August,  1917, 
and  recorded  in  Deed  Book  Number  614,  page  282,  Recorder’s  Office, 
Franklin  County,  Ohio. 

It  is  the  intention  to  convey  by  this  Indenture,  all  estates,  properties  intention 

of  this 

and  franchises,  of  every  name  and  nature  now  owned,  held  or  possessed  indenture, 
by  the  Company,  or  which  it  may  at  any  time  hereafter  acquire,  saving  and 
excepting  only  the  consideration  paid  by  the  Trustee  for  this  conveyance 
and  the  above  particularly  described  properties  designated  A  1  to  A  14 


58 


inclusive ;  and  all  such  estates,  properties  and  franchises,  except  as  afore¬ 
said,  are  and  shall  be  by  this  Indenture  conveyed  to  and  held,  owned 
and  enjoyed  by  the  Trustee,  its  successors  and  assigns,  as  fully  and  com¬ 
pletely  in  all  respects  and  to  all  intents  and  purposes  as  though  the  same 
and  each  and  every  part,  portion,  parcel  and  item  thereof  were  in  this 
Indenture  and  in  the  particular  description  of  the  property  contained  in 
this  Indenture  specifically  and  particularly  enumerated  and  described, 
and  no  words  of  particular  description  of  property  contained  in  this 
Indenture  shall  in  anywise  limit,  curtail  or  detract  from  or  be  deemed, 
held  or  construed  to  limit,  curtail  or  detract  from  the  effect  of  the  words 
of  general  description  of  property  contained  in  this  Indenture. 


Together 
with  Appur¬ 
tenances. 


Definition  of 

“Trust 

Estate.” 


Definition  of 
“Electric 
Light  and 
Power  Prop¬ 
erties.” 


Together  with  all  and  singular  the  buildings,  improvements,  addi¬ 
tions,  extensions,  accretions,  ways,  alleys,  passages,  rights  of  way,  waters, 
watercourses,  easements,  rights,  liberties,  privileges,  licenses,  franchises, 
tenements,  hereditaments  and  appurtenances  whatsoever,  belonging  or  in 
anywise  appertaining,  or  hereafter  to  belong  or  appertain,  unto  any  and 
all  of  the  premises  or  property  hereby  granted  or  mentioned  and  intended 
so  to  be,  and  the  reversion  and  reversions,  remainder  and  remainders, 
tolls,  incomes,  revenues,  rents,  issues  and  profits  thereof,  and  of  every  part 
and  parcel  thereof,  and  all  of  the  estate,  right,  title,  interest,  property, 
claim  and  demand  of  every  nature  and  kind  whatsoever  which  the  Com¬ 
pany  now  has  or  may  hereafter  acquire  in  law,  equity  or  otherwise 
howsoever,  of,  in  and  to  the  same  and  every  part  and  parcel  thereof, 
except  as  hereinabove  set  forth. 

All  of  the  property  and  franchises,  now  owned  or  hereafter  acquired 
or  possessed  by  the  Company,  including  the  income,  rents,  issues  and 
profits  thereof,  together  with  the  appurtenances,  as  aforesaid,  at  any 
time  subject  to  this  Indenture,  and  any  other  property  at  any  time  subject 
to  this  Indenture,  are  hereinafter  sometimes  collectively  referred  to  as 
the  “trust  estate.” 

The  term  “electric  light  and  power  properties”,  wherever  used  in  this 
Indenture,  shall  mean  and  include  any  and  all  property,  plants,  equip- 


59 


ment  or  appliances  for  generating,  manufacturing,  distributing  and/or 
supplying  light,  heat  and/or  power  to  the  public  by  means  of  electricity, 
including  (without  in  any  wise  limiting  or  impairing  by  the  enumeration 
of  the  same,  the  scope  and  intent  of  this  definition)  all  lands,  rights  of 
way,  power  houses,  sub-stations,  buildings  and  other  structures  including 
all  office  buildings  and  the  contents  thereof,  all  machinery,  engines, 
boilers,  dynamos,  electrical  machinery  and  equipment,  regulators,  meters, 
transformers,  generators,  motors,  electrical  and  mechanical  appliances, 
conduits,  cables,  water  or  other  pipes,  wires,  tools,  implements,  apparatus, 
supplies,  merchandise,  chattels,  demands,  accounts  and  choses  in  action, 
all  municipal  or  other  grants,  rights,  permits,  consents  and  franchises 
and  all  lines  for  the  transmission  and  distribution  to  the  public  of 
electric  energy  for  light,  heat  and/or  power  purposes,  whether  overhead 
or  underground,  including  poles,  towers,  wires,  conduits  and  cables 
and  all  apparatus  for  use  in  connection  therewith. 

The  term  “street  railway  properties”,  wherever  used  in  this  Inden¬ 
ture,  shall  mean  and  include  any  and  all  property,  plants,  equipment  or 
appliances  for  furnishing  street  and/or  interurban  railway  service  to  the 
public,  including  (without  in  any  wise  limiting  or  impairing  by  the 
enumeration  of  the  same,  the  scope  and  intent  of  this  definition)  all  lands, 
rights  of  way,  car  barns,  car  shops,  buildings  and  other  structures 
and  the  contents  thereof,  all  machinery,  engines,  boilers,  dynamos, 
motors,  electrical  machinery  and  equipment  and  electrical  and  mechan¬ 
ical  appliances,  rolling  stock,  rails,  ties,  track,  sidings,  bridges,  viaducts, 
tools,  implements,  apparatus,  supplies,  merchandise,  chattels,  demands, 
accounts  and  choses  in  action,  all  municipal  or  other  grants,  rights,  per¬ 
mits,  consents  and  franchises,  and  all  street  and  interurban  railway 
lines  for  furnishing  street  and/or  interurban  railway  service  to  the 
public,  including  poles,  towers,  wires  and  all  apparatus  for  use  in  connec¬ 
tion  therewith. 

The  term  “hot  water  properties”,  wherever  used  in  this  Indenture 
shall  mean  and  include  all  property,  plants  or  appliances  for  producing, 
distributing  and/or  supplying  to  the  public  hot  water  and/or  steam  for 


Definition  of 
“Street  Rail¬ 
way  Prop¬ 
erties.” 


Definition  of 
“Hot  Water 
Properties.” 


60 


Habendum. 


Underlying 

Mortgages. 


heating  purposes,  including  (without  in  any  wise  limiting  or  impairing 
by  the  enumeration  of  the  same,  the  scope  or  intent  of  this  definition)  all 
lands,  rights  of  way,  buildings  and  other  structures  and  the  contents 
thereof,  all  machinery,  engines,  boilers,  meters  and  mechanical  appli¬ 
ances,  equipment,  conduits,  water,  steam  or  other  pipes,  tools,  imple¬ 
ments,  apparatus,  supplies,  merchandise,  demands,  accounts  and  choses 
in  action,  and  all  municipal  or  other  grants,  rights,  permits,  consents 
and  franchises  and  all  steam  and  hot  water  lines,  for  the  transmission 
and  distribution  of  hot  water  and/or  steam  heat  to  the  public  for  heating 
purposes,  including  conduits,  pipes  and  all  apparatus  for  use  in  connec¬ 
tion  therewith. 

It  is  hereby  agreed  that  all  the  property  and  rights  acquired  by  the 
Company  after  the  date  hereof,  shall  be  as  fully  embraced  within  the 
lien  hereof  as  if  such  property  were  now  owned  by  the  Company  and  were 
specifically  described  herein  and  conveyed  hereby. 

To  have  and  to  hold  all  said  properties,  real,  personal  and  mixed, 
mortgaged,  pledged  and  conveyed  by  the  Company  as  aforesaid,  or 
intended  so  to  be,  unto  the  Trustee  and  to  its  successor  or  successors  in 
said  trust,  and  to  its  and  their  assigns  forever; 

Subject,  however,  as  to  the  properties  severally  embraced  therein  or 
affected  thereby,  to  the  following  mortgages  and  any  mortgages  sup¬ 
plemental  thereto  heretofore  executed  for  the  purpose  of  subjecting 
additional  property  to  the  lien  of  any  thereof  (hereinafter  sometimes 
referred  to  as  “the  underlying  mortgages”),  in  so  far  as,  and  only  in  so 
far  as,  the  liens  thereof  affect  the  foregoing  properties,  or  any  of  them : 

1.  The  First  Consolidated  Mortgage,  dated  July  1,  1892,  of  The  Col¬ 
umbus  Street  Railway  Company  to  Knickerbocker  Trust  Company  of 
New  York,  as  Trustee,  (Columbia  Trust  Company,  successor),  under 
which  there  are  now  outstanding  $3, 000, 000,  principal  amount,  of  First 
Consolidated  Mortgage  Forty  Year  Five  Per  Cent.  Gold  Bonds  of  The 
Columbus  Street  Railway  Company,  due  July  1,  1932. 


61 


2.  The  First  Mortgage,  dated  June  1,  1893,  of  The  Crosstown  Street 
Railway  Company  to  Knickerbocker  Trust  Company  of  New  York,  as 
Trustee,  (Columbia  Trust  Company,  successor),  under  which  there  are 
now  outstanding  $572,000,  principal  amount,  of  First  Mortgage  Forty 
Year  Five  Per  Cent.  Gold  Bonds  of  The  Crosstown  Street  Railway  Com¬ 
pany,  due  June  1,  1933. 

3.  The  First  Consolidated  Mortgage  of  The  Columbus  Railway  Com¬ 
pany,  dated  October  2,  1899,  to  The  Union  Savings  Bank  and  Trust 
Company  of  Cincinnati,  Ohio,  Trustee,  under  which  there  are  now  out¬ 
standing  $3,132,000,  principal  amount,  of  First  Consolidated  Mortgage 
Forty  Year  Four  Per  Cent.  Gold  Bonds  of  The  Columbus  Railway  Com¬ 
pany,  due  October  1,  1939. 

4.  The  First  Refunding  and  Extension  Sinking  Fund  Mortgage, 
dated  April  1,  1915,  of  The  Columbus  Railway,  Power  and  Light  Com¬ 
pany  to  Girard  Trust  Company,  Trustee,  under  which  there  are  out¬ 
standing  at  the  date  of  the  execution  and  delivery  hereof,  $10,682,000, 
principal  amount,  of  First  Refunding  and  Extension  Sinking  Fund 
Mortgage  Five  Per  Cent.  Gold  Bonds,  due  October  1,  1940,  including 
$6,000,000  in  principal  amount  thereof  initially  deposited  as  collateral 
with  the  Trustee  under  this  Indenture. 

The  mortgages,  hereinbefore  described,  and  numbered  1,  2  and  3  Definitionof 
above,  are  hereinafter  sometimes  referred  to  as  “divisional  railway  Ranwaynal 

Mortgages.” 

mortgages.” 

In  Trust,  nevertheless,  for  the  equal  and  proportionate  use,  bene-  tn  Trust, 

N  evertheless 

fit  and  security  of  all  present  and  future  holders  of  the  bonds  and 
coupons  issued  and  to  be  issued  under  this  Indenture,  and  for  the 
enforcement  of  the  payment  of  said  bonds  and  coupons  when  payable 
according  to  their  tenor,  purport  and  effect,  and  to  secure  the  perform¬ 
ance  of  and  compliance  with  the  covenants  and  conditions  of  said  bonds 
and  coupons  and  of  this  Indenture,  without  preference,  priority  or 
distinction  as  to  lien  or  otherwise  (except  as  otherwise  hereinafter 
provided  in  section  1  of  Article  VI  hereof),  of  any  one  bond  or  cou-  seepage  127. 


pon  over  any  other  bond  or  coupon,  or  of  the  bonds  or  coupons  of 
any  series  over  the  bonds  or  coupons  of  any  other  series,  by  reason 
of  priority  in  the  time  of  issue,  sale  or  negotiation  thereof  or  by  reason 
of  the  purpose  of  issue  or  otherwise  howsoever,  so  that  each  and  every 
bond  issued  and  to  be  issued  hereunder  shall  have  the  same  right,  lien 
and  privilege  under  and  by  virtue  of  this  Indenture,  and  so  that, 
except  as  aforesaid,  the  principal  and  interest  of  every  bond  shall  be 
equally  and  proportionately  secured  hereby,  as  if  all  such  bonds 
at  any  time  outstanding  had  been  duly  issued,  sold  and  negotiated 
simultaneously  with  the  execution  and  delivery  of  this  Indenture,  and 
for  the  same  consideration ;  it  being  intended  that  the  lien  and  security 
of  this  Indenture  and  of  all  of  the  bonds  issued  and  to  be  issued  here¬ 
under  shall  take  effect  from  the  day  of  the  execution  and  delivery  hereof, 
without  regard  to  the  time  of  the  actual  issue,  sale  or  disposition  of 
said  bonds,  and  as  though  upon  said  day  all  of  said  bonds  had  been 
actually  sold  and  delivered  to  and  were  in  the  hands  of  bona  fide  pur¬ 
chasers  thereof  for  value. 

Provided,  however,  and  these  presents  are  upon  the  condition  that 

Defeasance.  7  ' 

if  the  Company,  its  successors  or  assigns,  shall  pay  or  cause  to  be  paid 
unto  the  holders  of  said  bonds,  the  principal  and  interest  to  become  due 
in  respect  thereof,  at  the  times  and  in  the  manner  stipulated  therein  and 
herein,  and  shall  keep,  perform  and  observe  all  and  singular  the  co\e- 
nants  and  promises  in  said  bonds  and  the  appurtenant  coupons  and  in 
this  Indenture  expressed  as  to  be  kept,  performed  and  observed  by  or  on 
the  part  of  the  Company,  then  this  Indenture  and  the  estate  and  rights 
hereby  granted,  shall  cease,  determine  and  be  void,  otherwise  to  be  and 
remain  in  full  force  and  effect. 

^  ^  4  And  it  is  hereby  covenanted,  declared  and  agreed  by  and  between 

con  (i  it  ions  and  the  parties  hereto  that  all  of  said  bonds,  with  the  coupons  for  interest 

covenants. 

appertaining  thereto,  are  to  be  executed,  authenticated,  issued  and  held, 
and  that  the  trust  estate  is  to  be  held  by  the  Trustee,  upon  and  subject  to 
the  further  covenants,  conditions,  uses  and  trusts  hereinafter  set  forth, 


63 


and  the  Company,  for  itself  and  its  successors  and  assigns,  doth  hereby 
covenant  and  agree  to  and  with  the  Trustee  and  its  successor  or  suc¬ 
cessors  in  said  trust  for  the  benefit  of  those  who  shall  hold  said  bonds 
and  interest  coupons,  or  any  of  them,  as  follows : 

ARTICLE  I. 

Description,  Execution  and  Registration  op  Bonds. 

Section  1.  From  time  to  time  the  bonds  issuable  under  this  Inden¬ 
ture  shall  be  executed  on  behalf  of  the  Company  by  its  President  or  a 
Vice-President,  and  its  corporate  seal  shall  be  thereunto  affixed,  attested 
by  its  Secretary  or  an  Assistant  Secretary,  and  shall  be  delivered  to  the 
Trustee  for  authentication  by  it;  and  thereupon,  as  provided  in  this 
Indenture  and  not  otherwise,  the  Trustee  shall  authenticate  such  bonds 
and  shall  deliver  the  same  to  the  Company  or  upon  its  written  order. 
Only  such  bonds  as  shall  bear  thereon  endorsed  a  certificate  of  authen¬ 
tication  substantially  in  the  form  hereinbefore  recited,  executed  by  the 
Trustee,  shall  be  secured  by  this  Indenture,  or  be  entitled  to  any  lien, 
right  or  benefit  hereunder;  no  bond  and  no  coupon  thereunto  apper¬ 
taining  shall  be  or  become  valid  or  obligatory  for  any  purpose  until  such 
certificate  shall  have  been  duly  endorsed  on  such  bond ;  and  such  authen¬ 
tication  by  the  Trustee  upon  any  bond  shall  be  conclusive  evidence  and 
the  only  evidence  that  the  bond  so  authenticated  has  been  duly  issued 
hereunder  and  that  the  holder  is  entitled  to  the  benefit  of  the  trust  and 
lien  hereby  created.  Before  authenticating  and  delivering  any  bond,  the 
Trustee  shall  detach  and  cancel  any  coupons  thereto  appertaining  which 
shall  have  matured  and  shall  deliver  such  coupons  to  the  Company.  The 
definitive  bonds  of  each  series  issued  hereunder  shall  be  printed,  litho¬ 
graphed  or  engraved,  as  the  Board  of  Directors  of  the  Company,  at  the 
time  of  the  creation  of  any  such  series,  shall  determine. 

Section  2.  In  case  any  of  the  officers  of  the  Company  who  shall 
have  signed  and  sealed  any  of  the  bonds  issuable  under  this  Indenture 
or  attested  the  seal  on  any  of  said  bonds,  shall  cease  to  be  such  officers  of 


Execution 
and  authen¬ 
tication  of 
bonds. 


Conclusive¬ 
ness  of 

authentication 
by  Trustee. 


Adoption  of 
execution 
of  bonds  by 
former 
officers. 


Execution 
of  bonds  by 
future  officers. 


Attestation 
of  coupons. 


Bonds  may 
be  issued 
in  series. 

Provisions 
relating  to 
all  series. 


G4 

the  Company  before  the  bonds  so  signed  and  sealed  shall  have  been 
actually  authenticated  by  the  Trustee  or  delivered  by  the  Company,  such 
bonds,  nevertheless,  may  be  authenticated  and  delivered  and  issued  with 
the  same  force  and  effect  as  though  the  persons  who  had  signed  and 
sealed  such  bonds  had  not  ceased  to  be  officers  of  the  Company.  Any 
such  bond  may  be  signed  and  sealed  on  behalf  of  the  Company  by  such 
persons  as  at  the  actual  date  of  the  execution  of  such  bond  shall  be  the 
proper  officers  of  the  Company,  although  at  the  nominal  date  of  such 
bond  any  such  person  shall  not  have  been  such  officer  of  the  Company. 
The  coupons  to  be  attached  to  the  bonds  shall  be  attested  by  the  engraved 
or  lithographed  facsimile  signature  of  the  present  Treasurer  or  of  any 
future  Treasurer  of  the  Company,  and  the  Company  may  adopt  and  use 
for  that  purpose  the  engraved  or  lithographed  facsimile  signature  of  any 
person  who  shall  have  been  such  Treasurer,  notwithstanding  the  fact  that 
lie  may  not  have  been  such  Treasurer  at  the  date  of  such  bond  or  that  he 
may  have  ceased  to  be  such  Treasurer  at  the  time  when  such  bonds  shall 
be  actually  authenticated  and  delivered. 

Section  3.  The  bonds  to  be  secured  by  this  Indenture  may  be  issued 
in  such  series  as  from  time  to  time  shall  be  authorized  by  the  Board  of 
Directors  of  the  Company.  The  bonds  of  all  series  and  the  coupons 
to  be  attached  thereto  shall  be  substantially  in  the  forms  hereinbefore 
recited,  with  such  appropriate  omissions,  variations  and  insertions  as 
are  permitted  by,  or  as  may  be  required  to1  comply  with,  the  terms  of 
this  Indenture.  Each  series  shall  be  designated  in  such  manner,  approved 
by  the  Board  of  Directors  of  the  Company,  as  to  distinguish  it  from  other 
series,  and  all  bonds  of  the  same  series  shall  be  identical  as  to  date  of 
maturity,  rate  and  date  of  interest  payments,  date  fixing  the  standard 
of  weight  and  fineness  of  gold  coin  to  be  paid,  terms  and  rate  of  optional 
redemption  (if  redeemable),  terms  of  convertibility  (if  convertible)  and 
as  to  any  sinking,  amortization,  improvement  or  analogous  fund  for  the 
benefit  of  the  holders  of  bonds  of  such  series  issued  hereunder.  The  bonds 
of  each  series  may  be  coupon  bonds  and/or  registered  bonds  without 


65 


coupons,  as  the  Company,  by  resolution  of  its  Board  of  Directors  shall 
determine. 

Coupon  bonds  of  each  series  may,  at  the  option  of  the  Company, 
expressed  by  resolution  of  its  Board  of  Directors,  be  issued  in  the  denom¬ 
inations  of  $1,000,  numbered  consecutively  from  “Ml”  upward,  and/or 
$500,  numbered  consecutively  from  “Dl”  upward,  and/or  $100,  num¬ 
bered  consecutively  from  “Cl”  upward.  Fully  registered  bonds  without 
coupons  of  any  series  with  respect  to  which  the  Company  shall  authorize 
the  issue  thereof,  shall  be  of  the  denomination  of  $1,000  each  and  of  such 
multiples  thereof  as  the  Board  of  Directors  of  the  Company  shall  deter¬ 
mine. 

Bonds  of  any  series  may  be  exchanged  for  bonds  of  the  same 
series  of  the  same  aggregate  principal  amount,  but  of  a  different  denom¬ 
ination  or  denominations  and  similarly  coupon  bonds  may  be  exchanged 
for  registered  bonds  without  coupons  of  authorized  denominations  of 
the  same  series  or  registered  bonds  without  coupons  may  be  exchanged 
for  coupon  bonds  of  the  same  series,  and  of  the  same  aggregate  principal 
amount.  Every  bond  so  exchangeable  and  every  bond  issued  in  exchange 
therefor,  may  have  printed,  lithographed  or  engraved  thereon  such 
legend  in  the  premises  as  may  be  required  to  comply  with  the  rules  of 
any  stock  exchange  or  to  conform  to  usage  with  respect  thereto.  All 
bonds  so  surrendered  and  all  bonds  delivered  in  exchange  therefor  shall 
bear  all  unmatured  coupons  appertaining  thereto.  All  bonds  executed, 
authenticated  and  delivered  in  exchange  for  bonds  so  surrendered  shall 
be  the  valid  obligations  of  the  Company,  evidencing  the  same  debt  as  the 
bonds  surrendered,  and  shall  be  secured  by  the  lien  of  this  Indenture 
and  entitled  to  all  of  the  benefits  and  protection  hereof  to  the  same 
extent  as  the  bonds  in  exchange  for  which  they  were  executed,  authen¬ 
ticated  and  delivered. 

Section  4.  The  first  series  of  bonds  to  be  issued  under  this  Indenture 
shall  be  designated  “6%  Series  due  1041”.  The  bonds  of  this  series  shall  be 
dated  as  of  December  1st,  1921  (except  as  herein  otherwise  provided  with 


Denomina 
tions  and 
numbers 
of  bonds. 


Interchange- 
ability  of 
bonds. 


Provisions 
relating  to 
“6%  Series 
due  1941.” 


66 


respect  to  registered  bonds  without  coupons),  shall  mature  on  December 
1st,  1941,  shall  bear  interest  at  the  rate  of  six  per  cent.  (6%)  per  annum, 
payable  semi-annually  on  the  first  days  of  June  and  December  in  each 
year.  The  bonds  of  6%  Series  due  1941  shall  not  be  redeemable  until 
December  1,  1926,  but  shall  be  redeemable  at  the  election  of  the  Company 
on  December  1,  1926  or  any  interest  payment  date  thereafter  prior  to 
maturity,  as  a  whole,  or  in  part  from  time  to  time,  upon  the  payment  of 
the  principal  thereof  and  interest  thereon  accrued  to  the  date  of  redemp¬ 
tion,  together  with  a  premium  of  ten  per  cent.  (10%)  of  the  principal 
thereof  if  redeemed  on  or  before  June  1,  1931,  a  premium  of  five  per  cent. 
(5%)  of  the  principal  thereof  if  redeemed  after  June  1,  1931  and  on  or 
before  June  1,  1937,  a  premium  of  four  per  cent.  (4%)  of  the  principal 
thereof  if  redeemed  on  December  1,  1937  or  June  1,  1938,  a  premium  of 
three  per  cent.  (3%)  of  the  principal  thereof  if  redeemed  on  December  1, 
1938  or  June  1,  1939,  a  premium  of  two  per  cent.  (2%)  of  the  principal 
thereof  if  redeemed  on  December  1,  1939  or  June  1,  1940,  and  a  premium 
of  one  per  cent.  (1%)  of  the  principal  thereof  if  redeemed  on  December  1, 
1940  or  June  1,  1941,  but  only  after  notice,  in  the  manner  and  upon 
the  terms  provided  in  Article  III  hereof.  The  principal  of  the  bonds 
of  6%  Series  due  1941  shall  be  payable  at  the  office  or  agency  of  the 
Company  in  the  Borough  of  Manhattan,  City  of  New  York,  and  the 
interest  on  coupon  bonds  of  said  series  shall  be  payable,  on  surrender  of 
said  coupons,  at  the  said  office  or  agency  of  the  Company  in  the  Borough 
of  Manhattan,  City  of  New  York,  or  at  the  option  of  the  holder,  at  the 
office  of  the  Trustee  in  the  City  of  Chicago,  Illinois.  The  interest  on  reg¬ 
istered  bonds  without  coupons  of  said  series  shall  be  payable  only  at  the 
office  or  agency  of  the  Company  in  the  Borough  of  Manhattan,  City  of 
New  York.  Both  the  principal  of  and  interest  on  the  bonds  of  6%  Series 
due  1941  shall  be  payable  in  gold  coin  of  the  United  States  of  America  of 
or  equal  to  the  standard  of  weight  and  fineness  as  it  existed  on  December 
1st,  1921,  and  (to  the  full  extent  that  such  agreement  may  be  permitted  or 
not  prohibited  by  law),  without  deduction  therefrom,  for  any  tax,  assess¬ 
ment  or  other  governmental  charge  which  the  Company  or  the  Trustee  or 


67 


any  paying  agent  may  be  required  or  permitted  to  pay  thereon  or  to  deduct 
or  retain  therefrom  under  any  present  or  future  law  or  requirement  of  the 
United  States  of  America,  or  of  any  state,  county,  municipality  or  other 
taxing  authority  therein,  except  inheritance  and  succession  taxes  and 
state  income  taxes  and  such  portion  of  any  Federal  income  tax  with 
respect  to  income  derived  from  the  bonds  of  6%  Series  due  1941  as  shall 
be  in  excess  of  two  per  cent.  (2%)  per  annum  of  such  income,  the  Com¬ 
pany  hereby  agreeing  to  pay  any  such  taxes,  assessments  or  charges, 
except  as  aforesaid. 

The  foregoing  provisions  relating  to  the  6%  Series  due  1941  shall 
be  appropriately  expressed  in  the  bonds  of  such  series. 

The  definitive  bonds  of  6%  Series  due  1941  shall  conform  with  the 
listing  requirements  of  the  New  York  Stock  Exchange. 

Section  5.  The  bonds  of  each  series  other  than  the  bonds  of  6% 
Series  due  1941  shall  be  dated  as  of  December  1st,  1921  (except  as  herein 
otherwise  provided  with  respect  to  registered  bonds  without  coupons), 
shall  bear  interest  at  such  rate,  payable  in  such  installments  and  on 
such  dates,  shall  mature  on  such  date  (except  as  herein  otherwise  pro¬ 
vided),  but  in  no  event  later  than  December  1,  2071,  shall  be  payable, 
except  as  hereafter  provided,  in  gold  coin  of  such  standard,  and  may  be 
redeemable  at  the  election  of  the  Company  before  maturity  at  such  price 
or  prices  and  upon  such  terms  and  conditions,  as  shall  be  fixed  and 
determined  in  respect  of  such  series  by  the  Board  of  Directors  of  the 
Company,  and  as  shall  be  appropriately  expressed  in  the  bonds  of  such 
series,  provided,  however,  that  no  series  of  bonds  shall  be  issued  which  by 
their  terms  will  mature  on  a  date  within  six  months  of  the  date  of  matur¬ 
ity  of  the  bonds  of  any  other  series  outstanding  at  the  time  of  such  issue. 
The  Board  of  Directors  of  the  Company  may  provide  in  the  creation  of 
any  series  other  than  6%  Series  due  1941,  that  the  principal  of  and  inter¬ 
est  on  the  bonds  comprising  such  series  shall  be  payable  without  deduction 
for  such  taxes,  assessments  or  other  governmental  charges,  or  to  such 
extent,  as  the  Board  of  Directors  of  the  Company  may  determine,  and 


Provisions 
relating  to 
bonds  of 
series  other 
than  “6% 
Series  due 
1941.” 


any  such  provision  shall  be  appropriately  referred  to  in  the  bonds  and 
coupons  of  such  series.  The  Board  of  Directors  of  the  Company  may 
in  the  creation  of  any  series,  after  all  of  the  bonds  of  6%  Series  due  1941 
have  been  retired,  provide  that  the  principal  thereof  and  the  interest 
thereon  may  be  payable  in  currency  other  than  gold  coin,  in  which  event 
appropriate  changes  shall  be  made  in  the  title  and  text  of  the  bonds  and 
in  the  coupons  of  such  series.  The  Board  of  Directors  of  the  Company 
may,  at  the  time  of  the  creation  of  any  series  other  than  6%  Series  due 
1941,  fix  a  place  or  places  for  payment  of  the  principal  of  and/or  interest 
upon  the  bonds  of  such  other  series,  differing  from  the  provisions  of  the 
bonds  of  6%  Series  due  1941  with  respect  thereto,  and,  in  such  event,  shall 
authorize  appropriate  changes  in  the  forms  of  bond  and  coupon  of  such 
other  series  so  as  to  express  such  provisions.  The  Board  of  Directors  of 
the  Company  may,  at  the  time  of  the  creation  of  any  series  or  at  any  time 
thereafter,  limit  the  maximum  principal  amount  of  bonds  which  may  be 
issued  of  such  series  and  an  appropriate  insertion  in  respect  of  such  limi¬ 
tation  may,  but  need  not,  be  made  in  the  bonds  of  such  series.  Unless  so 
restricted,  the  amount  of  bonds  of  any  series  issuable  hereunder  shall  not 
be  limited  except  as  hereinafter  expressly  provided  or  as  may  otherwise  be 
provided  by  law.  Bonds  issuable  hereunder  shall,  subject  to  the  provisions 
hereof,  be  of  such  series  as  the  Board  of  Directors  of  the  Company  shall, 
from  time  to  time,  determine.  The  Board  of  Directors  of  the  Company  may 
provide  at  the  time  of  the  creation  of  any  series  other  than  6%  Series  due 
1941,  that  the  bonds  of  any  such  series  shall  be  coupon  bonds  registerable 
as  to  principal  only  or  coupon  bonds  only  not  registerable  as  to  principal, 
may  limit  the  denominations  thereof  which  may  be  issued,  may,  with 
respect  to  any  series,  limit  or  prohibit  the  interchangeability  of  bonds  of 
different  denominations  and  of  coupon  bonds  and  registered  bonds  with¬ 
out  coupons  of  such  series,  and  may  authorize  appropriate  changes  in  the 
form  of  bond  of  any  such  series  so  as  to  express  such  provisions.  The 
Board  of  Directors  of  the  Company  may  provide  at  the  time  of  the  crea¬ 
tion  of  any  series  other  than  6%  Series  due  1941,  that  the  bonds  of  such 
series  may  be  convertible,  at  the  option  of  the  holders  thereof,  into  capital 


69 


stock  of  the  Company  at  such  times  and  upon  such  terms  and  conditions, 
as  the  Board  of  Directors  of  the  Company  may  determine  and  as  shall  he 
appropriately  referred  to  in  the  bonds  of  such  series.  Any  such  right  of 
conversion,  however,  shall  be  subject  to  such  prior  authorization  thereof 
by  the  stockholders  of  the  Company  and  by  such  public  utilities  commis¬ 
sion  or  other  governmental  body  having  jurisdiction  in  regard  thereto,  as 
may  then,  in  the  opinion  of  counsel  selected  by  the  Company  and  accept¬ 
able  to  the  Trustee  (who  may  be  counsel  for  the  Company),  be  required 
by  law. 

The  Board  of  Directors  of  the  Company  may  provide,  at  che  time 
of  the  creation  of  any  Series  other  than  6%  Series  due  1941,  that  the 
bonds  of  such  series  may  be  exchanged  for  bonds  of  a  different  series  at 
such  times  and  upon  such  terms  and  conditions  as  the  Board  of  Directors 
of  the  Company  may  determine  and  as  shall  be  appropriately  referred  to 
in  the  bonds  of  such  series.  Subject  in  all  respects  to  the  provisions  of 
Article  IV  hereof,  the  Board  of  Directors  of  the  Company  may  provide 
at  the  time  of  the  creation  of  any  series  other  than  6%  Series  due  1941, 
for  provisions  in  regard  to  the  establishment  and  application  of  any  sink¬ 
ing,  amortization,  improvement  or  analogous  fund  for  the  benefit  of  the 
holders  of  the  bonds  of  such  series  and/or  the  sinking  fund  price  of 
the  bonds  of  such  series,  differing  from  the  provisions  with  respect 
thereto  provided  for  the  bonds  of  6%  Series  due  1941,  or  may  pro¬ 
vide  that  the  holders  of  bonds  of  such  other  series  shall  not  be  entitled 
to  the  benefit  of  any  sinking,  amortization,  improvement  or  analogous 
fund  for  the  benefit  of  the  holders  of  bonds  issued  hereunder,  and  such 
provisions  shall  be  appropriately  referred  to  in  the  bonds  of  such  series. 


Section  6.  The  holder  of  any  bonds  for  $500  and/or  $100  each,  may 
at  any  time  surrender  the  same  for  cancellation  with  all  unmatured  cou¬ 
pons  thereto  appertaining,  and  shall  be  entitled  to  receive  in  exchange 
therefor  coupon  bonds  of  the  same  series  for  the  appropriate  principal 
amount,  in  bonds  of  higher  denominations,  bearing  all  unmatured  cou¬ 
pons.  Whenever  such  bonds  of  the  principal  amount  of  $500  or  $100  each. 


Exchanges  of 
bonds  for 
bonds  of 
higher  de¬ 
nominations. 


70 


Exchanges  of 
bonds  for 
bonds  of 
smaller  de¬ 
nominations. 


Charges  for 
exchange  of 
bonds. 


Date  of  reg¬ 
istered  bonds 
without 
coupons. 


with  all  unmatured  coupons  attached  thereto,  shall  thus  be  surrendered 
for  exchange,  the  Company  shall  execute  and  the  Trustee  shall  authenti¬ 
cate  and  deliver  a  coupon  bond  of  the  same  series  for  the  appropriate 
principal  amount. 

The  holder  of  any  bonds  for  $500  or  $1,000  each  may  at  any  time  sur¬ 
render  the  same  for  cancellation  with  all  unmatured  coupons  thereto  ap¬ 
pertaining  and  shall  be  entitled  to  receive  in  exchange  therefor  coupon 
bonds  of  the  same  series  for  the  appropriate  principal  amount  in  bonds 
of  lesser  denominations,  bearing  all  unmatured  coupons.  Whenever 
such  bonds  of  the  principal  amount  of  $500  or  $1,000  each,  with  all  unma¬ 
tured  coupons  attached  thereto,  shall  thus  be  surrendered  for  exchange, 
the  Company  shall  execute  and  the  Trustee  shall  authenticate  and  deliver 
coupon  bonds  of  the  same  series  for  the  appropriate  principal  amount. 

Upon  every  exchange  of  bonds  as  aforesaid,  the  Company  may  make 
a  charge  therefor  sufficient  to  reimburse  it  for  any  tax  or  taxes  or  other 
governmental  charges  required  to  be  paid  by  the  Company  and  in  addi¬ 
tion  may  charge  a  sum  not  exceeding  One  dollar  and  fifty  cents  ($1.50) 
for  each  bond  issued  upon  any  such  exchange,  to  be  paid  by  the  party 
requesting  such  exchange  as  a  condition  precedent  to  the  exercise  of  the 
privilege  heretofore  conferred. 

All  bonds  executed,  authenticated  and  delivered  in  exchange  for 
bonds  so  surrendered  shall  be  the  valid  obligations  of  the  Company,  evi¬ 
dencing  the  same  debt  as  the  bonds  surrendered,  and  shall  be  secured  by 
the  lien  of  this  Indenture  and  entitled  to  all  of  the  benefits  and  protection 
hereof  to  the  same  extent  as  the  bonds  in  exchange  for  which  they  were 
executed,  authenticated  and  delivered. 

Section  7.  Every  registered  bond  without  coupons  issued  under  this 
Indenture  shall  be  dated  as  of  the  time  of  issue  (except  that  if  such 
registered  bond  shall  be  issued  upon  any  interest  payment  date  it  shall 
be  dated  as  of  the  day  following)  and  shall  bear  interest  from  the  interest 
payment  date  next  preceding  the  date  thereof  so  fixed. 

The  Company  will  cause  to  be  kept  at  an  office  or  agency  to  be  main¬ 
tained  by  it  in  the  Borough  of  Manhattan,  City  of  New  York,  and  also  at 


71 


the  office  of  the  Trustee,  books  for  the  recording  and  transfer  of  registered 
bonds  without  coupons.  The  books  so  to  be  kept  at  the  office  or  agency  of 
the  Company  in  the  Borough  of  Manhattan,  City  of  New  York,  shall  at  all 
times  be  open  for  inspection  by  the  Trustee.  Any  registered  bonds  with¬ 
out  coupons  issued  under  the  terms  of  this  Indenture  may  be  transferred 
at  said  office  or  agency  of  the  Company  in  the  Borough  of  Manhattan,  City 
of  New  York,  or  at  the  option  of  the  holder  at  the  office  of  the  Trustee, 
by  surrender  of  such  bond  for  cancellation,  accompanied  by  delivery  of  a 
written  instrument  of  transfer  in  a  form  approved  by  the  Company  and 
the  Trustee,  duly  executed  by  the  registered  holder  of  such  bond,  and 
thereupon  the  Company  shall  issue  in  the  name  of  the  transferee  or  trans¬ 
ferees,  a  new  registered  bond  or  new  registered  bonds  without  coupons  of 
the  same  series  for  a  like  aggregate  principal  sum  and  the  Trustee  shall 
authenticate  and  deliver  the  same  to  him  or  them. 

Any  such  registered  bonds  without  coupons  may,  upon  the  request 
of  the  registered  holder,  be  exchanged  at  said  office  or  agency  of  the 
Company  in  the  Borough  of  Manhattan,  City  of  New  York,  or 
at  the  option  of  the  holder  at  the  office  of  the  Trustee,  for  several 
such  bonds  without  coupons  of  the  same  series  for  the  like  aggregate  prin¬ 
cipal  sum  and  similarly  several  registered  bonds  without  coupons  in  the 
same  name,  may,  upon  request  of  the  registered  holder,  be  exchanged 
for  one  registered  bond  without  coupons  or  several  such  bonds  without 
coupons  of  the  same  series,  for  the  same  aggregate  principal  sum, 
provided,  however,  that  registered  bonds  without  coupons  shall  be  issued 
only  in  denominations  of  $1,000  or  such  multiples  thereof  as  the  Board 
of  Directors  of  the  Company  may  from  time  to  time  authorize.  Regis¬ 
tered  bonds  without  coupons  surrendered  for  such  purpose  shall  be 
cancelled  and  new  bonds,  in  accordance  with  such  request,  shall  be 
executed,  authenticated  and  delivered  as  aforesaid. 

Whenever  any  coupon  bonds  aggregating  in  principal  amount  $1,000 
or  an  authorized  multiple  thereof,  with  all  unmatured  coupons  thereunto 
belonging,  shall  be  surrendered  at  such  office  or  agency  of  the  Company  in 
the  Borough  of  Manhattan,  City  of  New  York,  or  at  the  option  of  the 


Recording 
and  transfer 
of  registered 
bonds  with¬ 
out  coupons. 


Exchange  of 
registered 
bonds  without 
coupons  for 
others  of  like 
amount. 


Exchange  of 
coupon 
bonds  for 
registered 
bonds  with¬ 
out  coupons. 


72 


Exchange  of 
registered 
bonds  without 
coupons  for 
coupon  bonds. 


Charges  for 
exchanges  of 
bonds. 


holder  at  the  office  of  the  Trustee,  for  exchange  for  a  registered  bond  or 
registered  bonds  without  coupons,  the  Company  shall  issue  and  the  Trus¬ 
tee  shall  authenticate  and  in  exchange  for  such  coupon  bonds  shall  deliver 
registered  bonds  or  one  registered  bond  of  the  same  series  without  coupons 
for  the  like  aggregate  principal  sum,  bearing  interest  from  the  next  pre¬ 
ceding  interest  day. 

Whenever  any  registered  bond  without  coupons,  shall  be  surrendered 
at  said  office  or  agency  of  the  Company  in  the  Borough  of  Manhattan, 
City  of  New  York,  or  at  the  option  of  the  holder  at  the  office  of  the 
Trustee,  for  exchange  for  coupon  bonds,  the  Company  shall  issue  and 
the  Trustee  shall  authenticate  and  in  exchange  for  such  registered  bond 
shall  deliver  coupon  bonds  of  the  same  series  for  the  like  aggregate  prin¬ 
cipal  sum,  with  coupons  thereto  appertaining  representing  interest  from 
the  next  preceding  interest  payment  date. 

Coupon  bonds,  in  exchange  for  which  registered  bonds  without  cou¬ 
pons  have  been  issued,  shall  be  retained  uncancelled  by  the  Trustee,  and 
the  Trustee  shall  register  all  such  coupon  bonds  so  retained,  as  held 
against  a  registered  bond  or  bonds  without  coupons  (giving  the  number 
or  numbers  thereof). 

Coupon  bonds  so  held  against  registered  bonds  without  coupons  shall 
be  reissued  upon  the  presentation  for  exchange  of  such  registered  bonds 
without  coupons  issued  in  exchange  therefor,  and  such  registered  bonds 
without  coupons  shall  be  forthwith  cancelled  by  the  Trustee  and  deliv¬ 
ered  to  the  Company. 

Upon  every  exchange  of  bonds,  under  the  provisions  of  this  section, 
the  Company  may  make  a  charge  therefor,  sufficient  to  reimburse  it  for 
any  tax  or  taxes  or  other  governmental  charges,  required  to  be  paid  by 
the  Company,  and  in  addition  may  charge  a  sum  not  exceeding  One  dollar 
and  fifty  cents  ($1.50)  for  each  bond  issued  upon  any  such  exchange,  to 
be  paid  by  the  party  requesting  such  exchange  as  a  condition  precedent 
to  the  exercise  of  the  privilege  conferred  by  this  section. 

All  bonds  executed,  authenticated  and  delivered  in  exchange  for 
bonds  so  surrendered  shall  be  the  valid  obligations  of  the  Company, 


73 


evidencing  the  same  debt  as  the  bonds  surrendered,  and  shall  be  secured 
by  the  lien  of  this  Indenture  and  entitled  to  all  of  the  benefits  and  protec¬ 
tion  hereof  to  the  same  extent  as  the  bonds  in  exchange  for  which  they 
were  executed,  authenticated  and  delivered. 

Section  8.  The  bonds  of  each  series  and  the  coupons  to  be  attached  compliances 

with  Stock 

thereto  may  contain  such  provisions,  specifications,  descriptive  words  ^ux,^aonrge 
and  recitals,  and  may  have  such  legends  printed,  lithographed  or  usage- 
engraved  thereon,  not  inconsistent  with  the  provisions  of  this  Indenture, 
as  may  be  required  to  comply  with  the  rules  of  any  stock  exchange  or  to 
conform  to  usage  in  respect  thereto,  or  as  may  be  desired  by  the  Board  of 
Directors  of  the  Company  and  approved  by  the  Trustee. 

Section  9.  The  bonds  hereby  secured  shall  be  designated  as  the  Designation 
“Refunding  Mortgage  Gold  Bonds”  of  the  Company  except  as  otherwise  in 
Section  5  of  this  Article  I  or  in  this  Section  9  provided,  see  page  67. 
Whenever  all  underlying  mortgages,  as  herein  defined,  shall  have  been  use  of  title 

“First  Mort- 

satisfied  of  record  and  the  Trustee  shall  have  been  furnished  gageGp,I(i 
with  an  opinion  of  counsel  selected  by  the  Company  and  accept¬ 
able  to  the  Trustee,  who  may  be  counsel  for  the  Company,  that  the  same 
have  been  satisfied  of  record  and  that  this  Indenture  constitutes  a  first 
mortgage  on  all  of  the  properties  and  franchises  of  the  Company,  then 
owned  or  thereafter  to  be  acquired,  all  bonds  issuable  hereunder  which 
may  be  thereafter  authenticated  and  delivered  pursuant  to  the  provisions 
of  Article  II  hereof  may,  if  the  Company  shall  so  elect  and  by  resolution 
of  its  Board  of  Directors,  request,  be  designated  “First  Mortgage  Gold 
Bonds”  instead  of  “Refunding  Mortgage  Gold  Bonds”  and  the  word 
“First”  may  be  substituted  for  the  word  “Refunding”  wherever  the 
same  appears  in  the  form  of  bond  and  coupon  hereinbefore  recited,  and 
all  bonds  which  may  be  authenticated  and  delivered  under  the  provi¬ 
sions  of  this  Article  I  in  exchange  or  substitution  for  any  such  bonds 
shall  be  so  designated,  provided,  however,  that  no  bonds  of  a  series  of 
which  bonds  are  at  the  time  outstanding  shall  be  so  designated,  unless 


74 


Temporary 

bonds. 


the  Company  shall  execute  and  deliver  to  the  Trustee,  for  authentication 
and  delivery  by  the  Trustee  in  substitution  for  the  bonds  of  such  series 
at  the  time  outstanding,  upon  the  surrender  thereof  to  the  Trustee,  new 
bonds  of  the  same  series  designated  as  “First  Mortgage  Gold  Bonds,”  as 
herein  provided.  In  case  all  of  said  underlying  mortgages  are  satisfied  of 
record  as  aforesaid,  the  Company  may,  if  it  so  elects,  execute  and  deliver 
to  the  Trustee  and  the  Trustee,  upon  receipt  of  an  opinion  of 
counsel,  as  aforesaid,  shall  thereupon  authenticate  and  deliver,  in 
substitution  for  all  bonds  of  any  series  hereby  secured  at  the  time  out¬ 
standing,  upon  the  surrender  thereof  to  the  Trustee,  new  bonds  of  like 
series  designated  as  “First  Mortgage  Gold  Bonds.”  All  bonds  so  surren¬ 
dered  and  all  bonds  delivered  in  exchange  therefor  shall  bear  all  unma¬ 
tured  coupons  appertaining  thereto.  In  case  the  change  in  this  section 
permitted  in  the  title  or  designation  of  bonds  is  made,  no  bonds  of  any 
new  series  thereafter  created  shall  be  authenticated  and  delivered  unless 
the  same  shall  be  designated  as  “First  Mortgage  Gold  Bonds.”  All  bonds 
which  may  be  authenticated  and  delivered,  as  provided  in  this  Section, 
shall  be  the  valid  obligations  of  the  Company  evidencing  the  same  debt 
as  the  bonds  surrendered,  and  shall  be  secured  by  the  lien  of  this  Indenture 
and  entitled  to  all  of  the  benefits  and  protection  hereof  to  the  same  extent 
as  the  bonds  in  exchange  for  which  they  were  authenticated  and  delivered. 

Section  10.  Pending  the  preparation  of  definitive  bonds  of  any 
series  to  be  secured  by  this  Indenture,  the  Company  may  execute,  and 
the  Trustee  shall  authenticate  and  deliver,  in  lieu  of  such  definitive 
bonds  and  subject  to  the  same  provisions,  limitations  and  con¬ 
ditions,  one  or  more  temporary  typewritten,  printed  or  lithographed 
bonds  of  any  one  or  more  of  the  denominations  hereinabove  pro¬ 
vided  for,  or  multiples  of  $1,000,  substantially  of  the  tenor  of  the  bonds 
to  be  issued  as  hereinbefore  recited,  and  with  such  appropriate  omissions, 
insertions  and  variations  as  may  be  required.  The  Company  shall,  with¬ 
out  unnecessary  delay,  at  its  own  expense,  prepare,  execute  and  deliver  to 
the  Trustee,  and  thereupon,  upon  the  presentation  and  surrender  of  tern- 


75 


porary  bonds,  the  Trustee  shall  authenticate  and  deliver,  in  exchange 
therefor,  definitive  bonds  of  the  same  series  for  the  same  principal  sum  in 
the  aggregate  as  the  temporary  bonds  surrendered,  first  detaching  and 
cancelling  all  coupons  then  matured  appertaining  to  the  definitive  bonds 
so  to  be  delivered.  All  temporary  bonds  so  surrendered  shall  be  forthwith 
cancelled  by  the  Trustee  and  delivered  to  the  Company.  Until  definitive 
bonds  of  any  series  are  so  delivered  to  the  Trustee,  the  temporary  bonds 
shall  be  exchangeable  for  other  temporary  bonds  of  the  same  series  of  dif¬ 
ferent  denominations  but  of  the  same  principal  amount  in  the  aggregate. 
Until  exchanged  for  definitive  bonds,  the  temporary  bonds  shall  in  all 
respects  be  entitled  to  the  lien  and  benefit  of  this  Indenture,  and  interest, 
when  and  as  payable,  shall  be  paid  upon  the  presentation  thereof  and  en¬ 
dorsement  of  such  payment  shall  be  made  thereon.  Temporary  bonds 
may,  at  the  option  of  the  Company,  bear  a  warrant  or  coupon  for  the 
interest  due  on  the  first  interest  date  succeeding  the  issue  thereof,  in  lieu 
of  presentation  thereof  and  endorsement  of  payment  of  interest  thereon. 

Section  11.  The  Company  will  cause  to  be  kept  at  an  office  or  agency 
to  be  maintained  by  it  in  the  Borough  of  Manhattan,  City  of  New  York, 
and  also  at  the  office  of  the  Trustee,  books  for  the  registration  as  to  prin¬ 
cipal  and  transfer  of  such  coupon  bonds  issued  hereunder  as  are  so  regis- 
terable;  and,  upon  presentation  for  such  purpose,  the  Company  will, 
under  such  reasonable  regulations  as  it  may  prescribe,  register  or  cause 
to  be  registered  therein,  as  to  principal,  any  such  coupon  bonds  issued 
hereunder.  The  books  so  to  be  kept  at  the  office  or  agency  of  the  Com¬ 
pany  in  the  Borough  of  Manhattan,  City  of  New  York,  shall  at  all  times 
be  open  for  inspection  by  the  Trustee. 

The  holder  of  any  such  coupon  bond  may  have  the  ownership  thereof 
as  to  principal,  registered  on  said  books,  and  such  registration  shall  be 
noted  on  the  bond.  After  such  registration,  no  transfer  of  any  such 
registered  coupon  bond  shall  be  valid  unless  made  upon  said  books  by 
the  registered  holder  in  person,  or  by  his  attorney  duly  authorized  in 
writing,  and  similarly  noted  on  the  bond;  but  the  same  may  be  dis- 


Registration 
and  transfer 
of  coupon 
bonds. 


76 


Registered 
owner  of 
bonds  deemed 
deemed  abso¬ 
lute  owner. 


charged  from  registration  by  being,  in  like  manner,  transferred  to  bearer, 
and  thereupon  transferability  by  delivery  shall  be  restored,  and  such 
bond  may  again  from  time  to  time  be  registered  or  transferred  to  bearer 
as  before.  Such  registration,  however,  shall  not  affect  the  negotiability 
of  the  coupons,  and  every  such  coupon  shall  continue  to  be  transferable 
by  delivery  merely,  and  shall  remain  payable  to  bearer,  and  payment 
thereof  to  bearer  shall  fully  discharge  the  Company  in  respect  of  the 
interest  therein  mentioned,  whether  the  bond  to  which  it  appertains  be 
registered  or  not.  No  charge  shall  be  made  for  the  registration  or 
transfer  of  coupon  bonds. 

Section  12.  As  to  all  coupon  bonds  registered  as  to  principal,  the 
person  in  whose  name  the  same  shall  be  registered  shall  for  all  purposes 
of  this  Indenture  be  deemed  and  regarded  as  the  absolute  owner  thereof, 
and  payment  of  or  on  account  of  the  principal  of  such  bond  shall  be  made 
only  to  or  upon  the  order  of  such  registered  holder  thereof,  but  such  regis¬ 
tration  may  be  changed  as  herein  provided.  All  such  payments  shall  be 
valid  and  effectual  to  satisfy  and  discharge  the  liability  of  the  Company 
upon  such  bonds  to  the  extent  of  the  sum  or  sums  so  paid.  The  Com¬ 
pany  and  the  Trustee  may  deem  and  treat  the  bearer  of  any  bond  issued 
hereunder  which  shall  not  at  the  time  be  registered,  and  the  bearer  of  any 
coupon  for  interest  on  any  bond,  whether  such  bond  be  registered  or  not, 
as  the  absolute  owner  of  such  bond  or  coupon,  as  the  case  may  be,  for  the 
purpose  of  receiving  payment  thereof  and  for  all  other  purposes  what¬ 
soever,  and  the  Company  and  the  Trustee  shall  not  be  affected  by  any 
notice  to  the  contrary. 

As  to  all  registered  bonds  without  coupons,  the  person  in  whose  name 
the  same  shall  be  registered  shall  for  all  purposes  of  this  Indenture  be 
deemed  and  regarded  as  the  absolute  owner  thereof,  and  payment  of  or 
on  account  of  the  principal  and/or  interest  of  such  bond  shall  be  made 
only  to  or  upon  the  order  of  such  registered  holder  thereof,  but  such 
registration  may  be  changed  as  herein  provided.  All  such  payments 


77 


shall  be  valid  and  effectual  to  satisfy  and  discharge  the  liability  of  the 
Company  upon  such  bonds  to  the  extent  of  the  sum  or  sums  so  paid. 

Section  13.  In  case  any  bond  or  the  coupons  thereto  appertaining 
shall  be  mutilated  or  destroyed  or  lost,  the  Company  in  its  discretion,  may 
issue,  and  thereupon  the  Trustee  shall  authenticate  and  deliver,  a  new 
bond  of  like  series,  tenor,  denomination,  and  date,  in  exchange  and 
substitution  for,  and  upon  surrender  and  cancellation  of,  the  mutilated 
bond  and  its  coupons,  or  in  lieu  of  and  in  substitution  for  the  bond  and 
its  coupons  so  destroyed  or  lost.  The  applicant  for  such  substituted  bond 
shall  furnish  to  the  Company  and  the  Trustee  satisfactory  evidence  of 
the  destruction  or  loss  of  such  bond  and  its  coupons  so  destroyed  or  lost, 
and  indemnity  satisfactory  to  both  of  them  in  their  discretion.  The  Com¬ 
pany  may  require  the  payment  of  a  sum  not  exceeding  one  dollar  for  each 
new  bond  issued  under  this  Section  13,  and  of  the  expenses  which  may 
be  incurred  by  the  Company  and  the  Trustee  in  the  premises. 


ARTICLE  II. 

Issue  of  Bonds. 

Section  1.  The  aggregate  principal  amount  of  bonds  which  may  be 
executed  by  the  Company  and  authenticated  and  delivered  by  the  Trustee 
and  be  secured  by  this  Indenture,  is  not  limited,  except  as  hereinafter  in 
this  Article  II  provided ;  but  shall  include  such  amount  as  may,  from  time 
to  time,  be  executed,  authenticated  and  issued  under  the  terms  hereof; 
and  this  Indenture  shall  be  and  constitute  a  continuing  lien  to  secure 
the  full  and  final  payment  of  the  principal  of  and  interest  on  all  bonds 
which  may,  from  time  to  time,  be  executed,  authenticated  and  issued  here¬ 
under.  The  total  amount  of  bonds  outstanding  at  any  time  shall  not, 
in  any  event,  exceed  the  amount,  at  that  time,  permitted  by  law  or  by  this 
Indenture. 

(a)  No  bonds  of  a  series,  including  those  of  the  6%  Series 
due  1941,  not  theretofore  created,  shall  be  authenticated  and 


Mutilated, 
destroyed  or 
lost  bonds. 


Total  prin¬ 
cipal  amount 
of  bonds 
issuable  under 
this  Indenture 
is  unlimited. 


Restrictions 
on  issue  of 
bonds  of  all 

series : 


78 


Resolution 
creating  each 
new  series. 


Opinion  of 
counsel  that 
indebtedness 
represented 
by  bonds  to 
be  issued 
is  within 
authority  of 
Company. 


Evidence  of 
approval  of 
Public  Utili¬ 
ties  Commis¬ 
sion  or  other 
governmental 
body. 


delivered  by  the  Trustee  under  the  provisions  of  this  Article  II 
unless  prior  to  the  authentication  and  delivery  thereof,  the  Com¬ 
pany  shall  cause  to  be  delivered  to  the  Trustee  a  copy  of  a  resolu¬ 
tion  or  resolutions  duly  adopted  by  vote  of  a  majority  of  all  its 
Board  of  Directors,  certified  under  its  corporate  seal  by  its  Secre¬ 
tary  or  an  Assistant  Secretary,  designating  the  new  series  to  be 
created  and  specifying  the  date  of  maturity  thereof,  the  rate  of 
interest  and  the  dates  for  the  payment  thereof,  the  terms  and  rates 
of  optional  redemption  (if  redeemable),  and  such  other  provisions 
and  agreements  in  respect  thereof,  in  this  Indenture  provided  or 
permitted,  as  the  Board  of  Directors  may  determine,  and  all  bonds 
of  such  series  which  may  be  executed,  authenticated  and  delivered 
hereunder  shall  conform  to  the  terms  expressed  in  such  resolution 
or  resolutions.  The  Company  covenants  and  agrees  that  it  will 
keep,  observe  and  perform  any  and  all  conditions  and  agreements 
in  any  such  resolution  or  resolutions  contained. 

(b)  No  bonds,  including  those  of  the  6%  Series  due 
1941,  shall  be  authenticated  or  delivered  under  the  provisions  of 
this  Article  II,  unless  and  until  the  Trustee  shall  have  been 
furnished,  in  every  instance,  with  an  opinion  of  counsel,  selected 
by  the  Company  and  acceptable  to  the  Trustee,  who  may  be 
counsel  for  the  Company,  that  the  indebtedness  represented  by 
such  bonds,  will  be  within  the  total  amount  of  indebtedness  which 
the  Company  may  then  by  law  be  empowered  or  authorized  to 
incur  or  create,  and  that  the  Company  is  lawfully  permitted  to 
issue  the  bonds  applied  for  in  addition  to  any  and  all  indebtedness 
then  outstanding. 

(c)  No  bonds,  including  those  of  the  6%  Series  due  1941, 
shall  be  authenticated  or  delivered  under  the  provisions  of  this 
Article  II  unless  and  until  the  Trustee  shall  have  been  furnished, 
in  every  instance,  either  a  certificate  constituting  evidence  of 
authorization,  approval  or  consent  of  any  public  utilities  com- 


tl 


79 


mission  or  other  governmental  body  having  jurisdiction  in  the 
premises,  together  with  an  opinion  of  counsel  selected  by  the  Com¬ 
pany  and  acceptable  to  the  Trustee,  who  may  be  counsel  for  the 
Company,  that  the  same  is  sufficient  for  the  purpose,  or  the  opinion 
of  such  counsel  that  no  such  authorization,  approval  or  consent  is 
required.  Such  opinion  in  either  case  shall  also  state  that  all  laws 
and  requirements  in  respect  to  the  authentication  and  delivery  of 
the  bonds  to  be  authenticated  or  delivered  have  been  complied  with. 

( d )  The  Company  shall  not  execute  and  the  Trustee  shall  not 
authenticate  and  deliver  any  bonds  of  any  series  under  the  pro¬ 
visions  of  this  Article  II  with  respect  to  any  new  or  additional 
street  railway  properties  or  any  extensions,  improvements  or  addi¬ 
tions  of  or  to  any  street  railway  properties  of  the  Company,  or  of 
or  to  any  electric  light  and  power  properties  of  the  Company  upon 
which  any  of  the  divisional  railway  mortgages  are  a  lien,  unless 
such  bonds  are  by  their  terms  to  be  of  a  maturity  later  than 
December  1,  1941. 

The  foregoing  restrictions  of  this  subdivision  (d)  shall  re¬ 
main  in  force  so  long  as  any  of  the  bonds  of  6%  Series  due  1941 
remain  outstanding,  even  if  the  Company  shall  file  with  the  Trus¬ 
tee  the  certificates  and  opinions  described  and  provided  for  in 
subdivision  (e)  of  this  Section  1. 

(e)  The  Company  shall  not  execute  and  the  Trustee  shall 
not  authenticate  and  deliver  any  bonds  of  any  series  under  the 
provisions  of  this  Article  II  with  respect  to  any  new  or  additional 
street  railway  properties  or  any  extensions,  improvements  or 
additions  of  or  to  any  street  railway  properties  of  the  Company, 
or  of  or  to  any  electric  light  and  power  properties  of  the  Company 
upon  which  any  of  the  divisional  railway  mortgages  are  a  lien, 
unless  and  until  the  Company  shall  file  with  the  Trustee  an 
opinion  or  opinions  of  one  or  more  counsel,  selected  or  approved 
by  the  Trustee,  to  the  effect  that  the  street  railway  franchise  or 


Opinion  of 
counsel 
respecting 
the  same. 


Restrictions 
as  to  maturity 
of  bonds  with 
respect  to 
certain  new 
properties. 


Restrictions 
upon  the 
issue  of  bonds 
with  respect 
to  certain 
new  properties 
until  the  Com¬ 
pany  shall 
file  with  the 
Trustee  cer¬ 
tain  opinions 
and  certifi¬ 
cates  relating 
to  its  street 
railway  fran¬ 
chises  in 
Columbus. 


80 


franchises  of  the  Company  in  the  City  of  Coumbus,  under  which 
it  operates  its  street  railway  properties  in  said  City,  is  or  are  sub¬ 
ject  to  the  lien  of  this  Indenture  and  is  or  are  free  from  any  lien 
prior  thereto  except  underlying  mortgages  and  current  taxes  and 
affords  or  afford  sufficient  authority  to  the  Company  to  conduct 
its  street  railway  business  in  the  City  of  Columbus  for  a  period  of 
time  which  extends  at  least  to  December  1, 1944,  or  for  an  unlimited 
period  of  time,  or  for  a  period  of  time  which  cannot  be  terminated 
without  the  consent  of  the  Company  except  upon  the  Company’s 
default  or  upon  condemnation  or  upon  payment  of  a  fair  price 
for  all  of  the  property,  the  operation  of  which  is  dependent  upon 
such  franchise  or  franchises,  and  shall  also  file  with  the  Trustee 
a  certificate  or  certificates  of  one  or  more  engineers  and/or  other 
experts,  selected  or  approved  by  the  Trustee,  to  the  effect  that,  in 
his  or  their  opinion,  the  street  railway  franchise  or  franchises  of 
the  Company,  covered  by  the  foregoing  opinion  or  opinions  of 
counsel,  does  or  do  not  impose  any  burdensome  operating  condi¬ 
tions  on  the  Company ;  that  it  or  they  is  or  are  such  as  to  allow  the 
Company  to  receive  during  the  term  thereof  a  fair  return  on  its 
investment,  from  time  to  time,  in  its  street  railway  properties 
operated  thereunder  and  to  maintain  such  investment  unimpaired ; 
and  that  the  terms  and  conditions  of  said  franchise  or  franchises 
afford  proper  and  reasonable  protection  to  the  capital  invested 
or  to  be  invested  in  the  street  railway  properties  of  the  Company 
to  be  operated  thereunder ;  provided,  however,  that  when  the  Com¬ 
pany  shall  have  so  filed  such  certificate  or  certificates  and  opinion 
or  opinions,  any  bonds  which  might  have  been  previously  authenti¬ 
cated  and  delivered  but  for  the  prohibition  contained  in  this  sub¬ 
division  (e),  may  thereupon  be  authenticated  and  delivered  to  the 
Company  upon  compliance  by  it  with  the  other  provisions  of  this 
Indenture. 

The  foregoing  restrictions  of  this  subdivision  (e)  shall  re¬ 
main  in  force  so  long  as  any  of  the  bonds  of  6%  Series  due  1941 
remain  outstanding. 


81 


(/)  The  foregoing  limitations  in  subdivisions  ( d )  and  (e) 
shall  not  affect  the  right  of  the  Company  to  the  authentication 
and  delivery  of  bonds  hereunder,  in  the  manner  hereinafter  author¬ 
ized,  with  respect  to  new  or  additional  permanent  tangible  electric 
light  and  power  properties  or  any  permanent  tangible  extensions, 
improvements  or  additions  of  or  to  the  electric  light  and  power 
properties  of  the  Company  upon  which  none  of  the  divisional 
railway  mortgages  is  a  lien. 

(g)  No  bonds  shall  be  authenticated  or  delivered  if  the  Com¬ 
pany  is  at  the  time  to  the  knowledge  of  the  Trustee,  in  default 
under  any  of  the  provisions  of  this  Indenture. 

Section  2.  Bonds  of  6%  Series  due  1941  for  the  aggregate  principal 
amount  of  Five  Million  Dollars  ($5,000,000),  shall  forthwith  be  executed 
by  the  Company  and  delivered  to  the  Trustee  and  shall  be  authenticated 
by  the  Trustee,  and  delivered,  forthwith  or  thereafter  from  time  to  time, 
(whether  before  or  after  the  filing  or  recording  hereof),  in  accordance 
with  the  order  or  orders  of  the  Company,  evidenced  by  a  writing  or 
writings  signed  by  its  President  or  a  Vice-President  and  its  Treasurer 
or  an  Assistant  Treasurer  and  without  further  action  on  the  part  of  the 
Company  other  than  compliance  with  the  provisions  of  sub-divisions 
a,  5,  and  c  of  Section  1  of  this  Article  II,  but  only  upon  receipt  by  the 
Trustee  of  a  copy  of  a  resolution  certified  by  the  Secretary  or  an  Assistant 
Secretary  of  the  Company  to  have  been  duly  adopted  by  the  vote  of  a 
majority  of  all  the  Board  of 'Directors  of  the  Company,  requesting  the 
Trustee  to  authenticate  and  deliver  said  bonds. 

Section  3.  Bonds  secured  by  this  Indenture  for  the  aggregate  prin¬ 
cipal  amount  of  Eleven  Million  Three  Hundred  and  Eiglity-six  Thousand 
Dollars  ($11,386,000),  from  time  to  time,  may  be  executed  by  the  Com¬ 
pany  and  delivered  to  the  Trustee,  and  thereupon  the  same  shall  be 
authenticated  and  delivered  by  the  Trustee  to  the  Company,  or  upon  its 
written  order,  upon  compliance  with  the  provisions  of  Section  1  of  this 


Poregoing 
does  not 
affect  Issue 
of  bonds  with 
respect  to 
electric  light 
and  power 
properties 
not  subject 
to  any  of 
divisional 
railway 
mortgages. 


Bonds  may 
not  be  issued 
if  Company  is 
in  default. 


$5,000,000  of 
bonds  of  6% 
Series  due 
1941  may  be 
executed 
forthwith. 


See  pages 
77-78. 


Reservation 
of  bonds 
to  retire 
underlying 
securities. 


82 


See  page  77. 


Underlying 

securities. 


Article  II,  and  subject  to  the  restrictions  and  conditions  hereinafter  in 
this  Section  contained,  for  the  purpose  of  purchasing,  paying,  refunding 
or  retiring,  before,  at  or  after  maturity,  the  following  named  bonds, 
elsewhere  in  this  Indenture  sometimes  referred  to  as  “underlying  se¬ 
curities,”  viz. : 

$3,000,000  Principal  amount  of  First  Consolidated  Mortgage  Forty  Year 
Five  Per  Cent.  Gold  Bonds  of  The  Columbus  Street  Rail¬ 
way  Company,  dated  July  1,  1892,  and  due  July  1,  1932, 
secured  by  its  First  Consolidated  Mortgage,  dated  July  1, 
1892,  to  Knickerbocker  Trust  Company  of  New  York,  as 
Trustee  (Columbia  Trust  Company,  successor). 

$572,000  Principal  amount  of  First  Mortgage  Forty  Year  Five  Per 
Cent.  Gold  Bonds  of  The  Crosstown  Street  Railway  Com¬ 
pany,  dated  June  1,  1893,  and  due  June  1,  1933,  secured  by 
its  First  Mortgage,  dated  June  1,  1893,  to  Knickerbocker 
Trust  Company  of  New  York,  as  Trustee  (Columbia  Trust 
Company,  successor). 

$3,132,000  Principal  amount  of  First  Consolidated  Mortgage  Forty  Year 
Four  Per  Cent,  Gold  Bonds  of  The  Columbus  Railway 
Company,  dated  October  2,  1899,  and  due  October  1,  1939, 
secured  by  its  First  Consolidated  Mortgage,  dated  October 
2,  1899,  to  The  Union  Savings  Bank  and  Trust  Company, 
of  Cincinnati,  Ohio,  as  Trustee. 

$1,682,000  Principal  amount  of  First  Refunding  and  Extension  Sinking 
Fund  Mortgage  Five  Per  Cent.  Gold  Bonds,  dated  April  1, 
1915,  and  due  October  1,  1940,  secured  by  its  First  Refund¬ 
ing  and  Extension  Sinking  Fund  Mortgage,  dated  April  1, 
1915,  to  Girard  Trust  Company,  as  Trustee,  being  bonds 
now  outstanding  and  not  deposited  hereunder  at  the  date 
of  the  execution  and  delivery  hereof. 

The  Company  will  forthwith  notify  the  Trustee  of  the  serial  numbers 
of  the  said  underlying  securities  and  no  bond  not  bearing  one  of  said 
serial  numbers  shall  be  refunded  under  this  Section. 


83 


Bonds  hereby  secured,  in  addition  to  the  $11,386,000  principal 
amount  of  bonds  hereby  secured  hereinabove  in  this  Section  3  reserved, 
may  hereafter  be  reserved  from  time  to  time,  under  the  provisions  of  this 
Section  3  pursuant  to  and  upon  compliance  with  the  terms  and  provisions 
.of  clause  (6)  of  Section  4  of  this  Article  II  in  respect  of  additional 
underlying  securities,  as  in  said  clause  (6)  of  Section  4  of  this  Article  II 
provided  for  and  defined.  The  Company  will  likewise  notify  the  Trustee, 
from  time  to  time,  of  the  serial  numbers  of  such  additional  underlying 
securities  and  no  additional  underlying  securities  not  bearing  one  of  said 
serial  numbers  shall  be  refunded  under  any  provision  of  this  Indenture. 

Bonds  secured  hereby  may  not,  in  any  event,  be  authenticated  by 
the  Trustee  and  delivered  to  the  Company  under  the  provisions  of  this 
Section  3  of  Article  II,  except  for  the  purpose  of  purchasing,  paying, 
refunding  or  retiring,  as  aforesaid,  $4,682,000  of  the  First  Refunding 
and  Extension  Sinking  Fund  Mortgage  Five  Per  Cent.  Gold  Bonds  of  the 
Company,  now  outstanding  and  not  deposited  hereunder  at  the  date  of 
the  execution  and  delivery  hereof,  unless  and  until  the  Company  shall 
file  with  the  Trustee  the  certificate  or  certificates  of  an  engineer  or 
engineers  or  other  experts,  and  the  opinion  or  opinions  of  counsel, 
selected  or  approved  by  the  Trustee,  described  and  provided  for  in  sub¬ 
division  (e)  of  Section  1  of  Article  II  hereof  and  setting  forth  the  mat¬ 
ters  therein  specified. 

Whenever,  from  time  to  time,  the  Company  shall  deposit  or  cause  to 
be  deposited  with  the  Trustee  in  accordance  with  the  conditions  of  this 
Section,  either  in  bearer  form  or  accompanied  by  proper  instruments 
of  assignment  and  transfer,  whether  before,  at  or  after  the  maturity 
thereof,  either  uncancelled  and  with  all  unmatured  coupons,  if  any, 
thereunto  appertaining,  or  cancelled  at  maturity  or  under  the  redemp¬ 
tion  or  other  provisions  of  the  mortgage  securing  the  same,  any  under¬ 
lying  securities,  to  retire  which,  bonds  are  then  reserved  either  under  the 
provisions  of  this  Section  3  or  pursuant  to  the  provisions  of  Clause  (6) 
of  Section  4  of  this  Article  II,  the  Trustee,  in  exchange  therefor,  shall 
authenticate  and  deliver  to  the  Company,  or  upon  its  written  order, 


Reservation 
of  bonds  in 
respect  of 
additional 
underlying 
securities. 


See  page  90. 


Restrictions 
on  refunding 
until  Com¬ 
pany  shall 
comply  with 
Subdivision 
(e)  of  Sec¬ 
tion  1  of 
Article  II. 


See  page  79. 


Manner  of 
carrying  out 
refunding. 


See  page  90. 


84 


Issue  of  bonds 
against  cash 
deposited  in 
connection 
with  retire¬ 
ment  of  un¬ 
derlying 
securities. 


See  page  90. 


bands  reserved  for  a  principal  amount  equal  to  the  principal  amount 
of  the  underlying  securities  so  deposited;  provided,  however,  that  no 
bonds  shall  be  authenticated  and  delivered  against  the  deposit  of  under¬ 
lying  securities  which  have  been  redeemed,  paid  or  acquired  with  the 
proceeds  of  property  released  from  the  lien  hereof  or  from  the  lien  of 
the  mortgage  or  other  instrument  securing  such  underlying  securities, 
or  with  insurance  moneys  or  with  the  proceeds  of  property  taken  by  the 
exercise  of  the  power  of  eminent  domain,  held  by  the  Trustee  or  the 
trustee  of  any  of  the  underlying  mortgages. 

In  case  any  underlying  security  so  deposited  with  the  Trustee  shall 
have  been  cancelled  before  the  deposit  thereof,  the  Trustee  shall  require 
evidence  to  its  satisfaction  that  no  underlying  security  issued  in  lieu 
thereof  or  in  exchange  therefor,  evidencing  the  same  debt,  has  been  issued 
and  is  at  the  time  of  such  deposit  outstanding. 

The  Trustee  shall  also  in  each  instance  require  evidence  to  its  satis¬ 
faction  that  the  underlying  security  deposited  with  the  Trustee  has  not 
been  redeemed,  paid  or  acquired  with  the  proceeds  of  property  released 
from  the  lien  hereof  or  from  the  lien  of  the  mortgage  or  other  instrument 
securing  such  underlying  security,  or  with  insurance  moneys  or  with 
the  proceeds  of  property  taken  by  the  exercise  of  the  power  of  eminent 
domain,  held  by  the  Trustee  or  the  trustee  of  any  of  the  underlying 
mortgages. 

Whenever  all  of  the  underlying  securities  of  any  issue  shall  have 
become  due,  or  shall  within  twelve  months  mature,  or  shall  have  been 
duly  called  for  redemption,  bonds  hereby  secured  and  reserved,  either 
under  the  provisions  of  this  Section  3  or  pursuant  to  the  provisions  of 
Clause  (6)  of  Section  4  of  this  Article  II,  for  the  purpose  of  retiring 
such  underlying  securities  not  held  by  the  Trustee,  may,  from  time  to 
time,  be  executed  by  the  Company,  for  a  principal  amount  equal  ,to  the 
principal  amount  of  such  underlying  securities,  and  may  be  delivered 
to  the  Trustee,  and,  thereupon,  the  same  shall  be  authenticated  and 
delivered  by  the  Trustee  to  the  Company,  or  upon  its  written  order, 
without  further  action  on  the  part  of  the  Company  other  than  compli¬ 
ance  with  the  provisions  of  Section  1  of  this  Article  II  and  the  deposit 


See  page  77. 


85 


with  the  Trustee  of  an  amount  of  cash  sufficient  to  pay  the  principal 
and  interest  to  maturity  or  the  redemption  date,  as  the  case  may  be 
(and  premium,  if  any)  of  such  underlying  securities.  Whenever  there¬ 
after  the  Company  shall  be  or  become  entitled  to  the  authentication 
and  delivery  of  bonds  under  the  provisions  of  this  Section  in  respect  to 
such  underlying  securities,  the  Trustee  shall  pay  over  to  the  Company, 
or  upon  its  written  order,  in  lieu  of  each  bond  to  the  authentication  and 
delivery  of  which  the  Company  may  then  be  so  entitled,  cash  so  deposited 
to  an  amount  equal  to  the  aggregate  principal  amount  of  such  bonds 
(and  premium,  if  any),  or,  if  the  Company  shall  so  request,  the  Trustee 
shall  pay  cash  so  deposited  in  appropriate  amounts  to  the  trustee  of  the 
underlying  mortgage  securing  such  underlying  securities,  for  the  purpose 
of  paying,  redeeming  or  otherwise  retiring  such  underlying  securities. 
Any  cash  not  so  paid  out  and  not  required  for  the  purposes  aforesaid, 
shall  be  repaid  by  the  Trustee  to  the  Company,  or  upon  its  written  order. 
Unless  and  until  so  paid  or  applied  by  the  Trustee,  the  Trustee  shall 
hold  any  cash  so  deposited  with  it  as  a  part  of  the  trust  estate,  and  it 
shall  allow,  and  pay  to  the  Company,  interest  thereon  at  such  rate  as 
the  Trustee  and  the  Company  shall  agree  upon. 

Whenever  all  underlying  securities  of  a  particular  issue  (except  any 
lost,  mutilated  or  destroyed  underlying  securities  for  which  satisfactory 
indemnity  shall  have  been  given  and  as  to  which  the  Trustee  shall  have 
received  the  certificate  of  the  trustee  under  the  mortgage  or  other  instru¬ 
ment  securing  such  underlying  securities,  and  except  underlying  securities 
for  the  payment  of  which  due  provision  shall  have  been  made  by  the 
deposit  with  the  trustee  under  the  mortgage  or  other  instrument  securing 
the  same  of  the  amount  due  and  to  become  due  thereon  for  principal  and 
interest,  and  premium,  if  any),  shall  have  been  deposited  with  the 
Trustee  under  the  provisions  of  this  Section  3  or  shall  be  held  by  the 
Trustee  under  any  other  provision  of  this  Indenture,  the  Trustee  shall 
on  the  written  request  of  the  Company,  if  advised  by  counsel  selected 
by  the  Company  and  acceptable  to  the  Trustee,  who  may  be  counsel  for 
the  Company,  that  there  are  no  liens  upon  the  trust  estate  junior  to 
the  lien  of  the  mortgage  or  other  instrument  securing  such  underlying 


Conditions 
under  which 
underlying 
securities 
may  be  can¬ 
celled  and  the 
mortgage  se¬ 
curing  them 
satisfied. 


86 


Definitions  of 
Underlying 
Mortgages 
and  Underly¬ 
ing  Securities, 


Restrictions 
upon  issue 
of  further 
underlying 
securities. 


securities  and  prior  to  the  lien  of  this  Indenture,  and  that  such  action 
will  not  in  any  way  impair  the  security  of  the  bonds  hereby  secured, 
cancel  or  cause  to  be  cancelled  all  underlying  securities  of  such  issue  so 
deposited  (if  not  previously  cancelled)  and  shall  deliver  the  same  so 
cancelled  to  the  trustee  under  the  underlying  mortgage  or  other  instru¬ 
ment  and  shall  cause  such  mortgage  or  other  instrument  to  be  discharged 
of  record. 

Whenever  the  mortgage  or  other  instrument  securing  any  underlying 
securities  shall  have  been  discharged  of  record,  the  Trustee  shall  there¬ 
upon  authenticate  and  deliver  to  the  Company  all  bonds  hereby  secured 
at  the  time  reserved  in  respect  to  such  underlying  securities  and  which 
shall  not  have  been  previously  authenticated  and  delivered,  provided, 
however,  that  no  bonds  shall  be  authenticated  and  delivered  in  respect  of 
underlying  securities  which  have  been  redeemed,  paid  or  acquired  with 
the  proceeds  of  property  released  from  the  lien  of  this  Indenture  or 
from  the  lien  of  the  mortgage  or  other  instrument  securing  such  under¬ 
lying  securities,  or  with  insurance  moneys  or  with  the  proceeds  of  prop¬ 
erty  taken  by  the  exercise  of  the  power  of  eminent  domain,  held  by  the 
Trustee  or  the  trustee  of  any  of  the  underlying  mortgages. 

Each  and  every  underlying  security  received  by  the  Trustee  under 
the  provisions  of  this  Section  3  or  under  any  other  provision  of  this 
Indenture,  shall  be  held  by  the  Trustee  for  the  protection  and  further 
security  of  the  bonds  hereby  secured  until  surrendered  as  herein  pro¬ 
vided. 

The  mortgages  or  other  instruments  which  are  prior  in  lien  to  this 
Indenture  on  all  or  any  part  of  the  trust  estate,  including  those  described 
in  the  granting  clauses  hereof,  are  in  this  Indenture  sometimes  referred 
to  as  “underlying  mortgages'’ ;  and  the  term  “underlying  securities”,  as 
used  in  this  Indenture,  shall  include  all  bonds  or  other  obligations, 
secured  by  any  underlying  mortgage,  including  any  such  underlying 
securities  deposited  with  the  Trustee. 

The  Company  covenants  and  agrees  that  after  the  date  of  this 
Indenture,  no  First  Consolidated  Mortgage  Forty  Year  Five  Per  Cent. 


87 


Gold  Bonds  of  The  Columbus  Street  Railway  Company,  no  First  Mort¬ 
gage  Forty  Year  Five  Per  Cent.  Gold  Bonds  of  The  Crosstown  Street 
Railway  Company  and  no  First  Consolidated  Mortgage  Forty  Year  Four 
Per  Cent.  Gold  Bonds  of  The  Columbus  Railway  Company,  hereinabove 
described,  shall  be  authenticated,  delivered,  issued  or  reissued,  under  the 
mortgages  above  mentioned,  securing  the  same;  and  that  no  underlying 
securities  shall  be  authenticated,  delivered,  issued  or  reissued  under  any 
other  mortgage  which  shall  have  become  an  underlying  mortgage  under 
the  provisions  of  Clause  (6)  of  Section  4  of  this  Article  II  in  addition  see  page  90. 
to  the  underlying  securities  thereby  secured  deposited  with  the  Trustee 
and/or  any  such  underlying  securities  with  respect  to  which  bonds  hereby 
secured  are  reserved  pursuant  to  the  provisions  of  Clause  (6)  of  Section  see  page  90. 

4  of  this  Article  II,  except  in  lieu  of  lost,  destroyed  or  mutilated  bonds. 

The  Company  further  covenants  and  agrees  that  after  the  date  of 
this  Indenture,  no  First  Refunding  and  Extension  Sinking  Fund  Mort¬ 
gage  Five  Per  Cent.  Gold  Bonds  of  the  Company,  hereinabove  described, 
shall  be  authenticated,  delivered,  issued  or  reissued  under  the  mortgage, 
above  mentioned,  securing  the  same,  except  in  lieu  of  lost,  destroyed  or 
mutilated  bonds,  unless  such  additional  First  Refunding  and  Extension 
Sinking  Fund  Mortgage  Five  Per  Cent.  Gold  Bonds  of  the  Company  so 
authenticated,  delivered,  issued  or  reissued,  are  forthwith  deposited  with 
the  Trustee  as  additional  protection  and  security  for  the  bonds  hereby 
secured. 

Bonds  issuable  under  the  provisions  of  this  Section  3  shall  be  of 
such  series  as  the  Board  of  Directors  of  the  Company,  from  time  to  time, 
by  resolution  adopted  by  vote  of  a  majority  of  the  entire  Board,  shall 
request. 

Section  4.  Bonds  secured  by  this  Indenture  may,  from  time  to  time,  issue  of  bonds 

with  respect 

be  executed  by  the  Company  and  delivered  to  the  Trustee,  and  thereupon  to  property 

*  L  *  7  1  acquired  sub- 

the  same  shall  be  authenticated  and  delivered  by  the  Trustee  to  the  Com-  January  1, 

.  .  1922. 

pany  or  upon  its  written  order,  upon  compliance  with  the  provisions  of 
Sections  1,  5  and  6  of  this  Article  II  in  so  far  as  applicable:  paAefi77, 


88 


Conditions 
respecting 
the  issue  of 
such  bonds. 


See  page  100. 


Whenever  the  Company,  subsequent  to  January  1,  1922,  shall 
have  purchased  or  acquired  any  new  or  additional  permanent 
tangible  property,  or  shall  have  made,  constructed  or  acquired  any 
permanent  tangible  extensions,  improvements  or  additions  (in¬ 
cluding  equipment  and  appliances)  of  and  to  the  plants,  systems 
or  property  of  the  Company  subject  to  the  lien  of  this  Indenture, 
located  within  a  radius  of  one  hundred  miles  of  the  intersection 
of  what  are  now  Broad  and  High  streets  in  the  City  of  Colum¬ 
bus,  Ohio,  and  used  or  to  be  used  by  the  Company,  in  the  business 
of  generating,  manufacturing,  distributing  and/or  supplying  light, 
heat  and/or  power  to  the  public  by  means  of  electricity,  and/or  in 
the  business  of  furnishing  street  and/or  interurban  railway  service 
to  the  public ; 

but  only  subject  to  the  following  limitations,  restrictions  and  conditions : 

(1)  No  bonds  shall  be  authenticated  and  delivered  under  the  provi¬ 
sions  of  this  Section  4  for  a  principal  amount  in  excess  of  seventy-five 
per  cent.  (75%)  of  the  actual  cash  cost  to  the  Company  or  the  fair  value 
to  the  Company  (whichever  shall  be  the  lesser  amount)  of  any  such 
new  or  additional  permanent  tangible  properties,  or  permanent  tangible 
extensions,  improvements  or  additions.  Such  fair  value,  in  the 
case  of  any  public  utility  property,  hereinafter  defined,  shall  be 
fixed  and  determined  by  the  certificate  provided  for  in  clause  C  of  Sec¬ 
tion  6  of  this  Article  II.  The  actual  cash  cost  of  any  such  new  or 
additional  properties,  or  permanent  extensions,  improvements  or  addi¬ 
tions  shall  include  the  cost  of  constructing,  laying  and  installing  the 
same  ready  for  operation.  No  bonds  shall  be  authenticated  and  delivered 
under  the  provisions  of  this  Section  4  in  respect  of  expenditures  made 
for  repairs,  maintenance,  replacements  or  renewals,  except  that  when¬ 
ever  old,  inadequate  or  wornout  property  is  replaced  by  property  costing 
more  than  such  old,  inadequate  or  wornout  property  cost  when  new, 
then  such  excess  of  cost  of  such  property  constructed  or  acquired  to 
replace  the  old,  inadequate  or  wornout  property,  and  such  excess  only, 


89 


shall  be  deemed,  and  shall  constitute,  permanent  tangible  extensions, 
improvements  or  additions  for  which  bonds  may  be  authenticated  and 
delivered  under  this  Section  4.  Permanent  tangible  extensions,  improve¬ 
ments  or  additions  in  process  of  construction  or  erection,  so  far  as 
actually  constructed  or  erected,  and  subjected  to  the  lien  of  this  Inden¬ 
ture,  shall  be  deemed  permanent  tangible  extensions,  improvements  or 
additions  within  the  meaning  of  this  Section  4. 

The  term  “public  utility  property”  as  used  in  this  Indenture  shall 
be  construed  and  held  to  mean  a  plant  and/or  system,  including  any 
permanent  tangible  property  used  in  connection  therewith,  not  con¬ 
structed  or  erected  by  or  for  the  Company,  but  which,  prior  to  the  pur¬ 
chase  or  acquisition  thereof  by  the  Company,  has  been  used  or  operated 
by  others  than  the  Company  in  the  business  of  generating,  manufactur¬ 
ing,  distributing  and/or  supplying  light,  heat  and/or  power  to  the  public 
by  means  of  electricity  and/or  in  the  business  of  furnishing  street  and/or 
interurban  railway  service  to  the  public. 

(2)  No  bonds  shall  be  authenticated  and  delivered  under  the  pro¬ 
visions  of  this  Section  4  with  respect  to  any  street  railway  properties 
or  any  extensions,  improvements  or  additions  to  any  street  railway  prop¬ 
erties  located  outside  of  the  territorial  limits  of  the  County  of  Frank¬ 
lin,  Ohio. 

(3)  No  bonds  shall  be  authenticated  and  delivered  under  the  provi¬ 
sions  of  this  Section  4  in  respect  of  the  purchase  or  acquisition  of  any 
shares  of  stock,  bonds  or  other  securities  (except  as  provided  in  Clause 
(G)  of  this  Section  4  and  in  Section  3  of  this  Article  II)  or  franchises, 
nor  for  any  purpose  not  herein  specifically  provided  for. 

(4)  No  bonds  shall  be  authenticated  and  delivered  in  respect  of  the 
purchase  or  acquisition  of  any  new  or  additional  property  or  any  exten¬ 
sions,  improvements  or  additions,  unless  they  are  physically  connected  by 
transmission  or  service  lines  in  the  case  of  electric  light  and  power 
properties  or  by  railway  lines  in  the  case  of  street  railway  properties 
with  some  plant  or  system  subject  to  the  lien  hereof  at  the  date  of  the 
execution  and  delivery  hereof. 


Definition  of 

Public'Utility 

Property. 


See  pages  90 
and  81. 


(5)  No  bonds  shall  be  authenticated  or  delivered  under  the  provi¬ 
sions  of  this  Section  4  with  respect  to  any  new  or  additional  property 
or  any  extensions,  improvements  or  additions,  which  are  located  in  a 
municipal  division  in  which  the  Company  is  not  then  supplying  to  the 
public  light,  heat  and/or  power  by  means  of  electricity  or  street  or 
interurban  railway  service,  as  the  case  may  be,  unless  the  Company  is 
the  owner  of  a  franchise  or  franchises  subject  to  the  lien  of  this  Inden¬ 
ture  and  free  from  any  lien  prior  thereto  except  the  underlying  mort¬ 
gages  and  current  taxes,  lawfully  entitling  it  to  distribute  and/or  supply 
light,  heat  and/or  power  to  the  public  by  meansi  of  electricity,  and/or 
to  furnish  street  and/or  interurban  railway  service  to  the  public,  as  the 
case  may  be,  in  said  new  municipal  division,  or  unless  such  a  franchise 
or  franchises  is  not  necessary  for  such  purpose.  The  term  municipal 
division,  as  used  herein,  shall  include  a  city,  village,  township  or  other 
similar  municipal  division. 


Issue  of 
bonds  with 
respect  to 
property  sub¬ 
ject  to  prior 
mortgages. 


See  page  81. 


(6)  In  case  the  authentication  and  delivery  of  bonds  is  requested  in 
respect  of  the  purchase  or  acquisition  of  any  new  or  additional  property, 
which  is  at  the  time  subject  to  a  mortgage  prior  to  the  lien  of 
this  Indenture,  securing  bonds  outstanding  of  an  aggregate  prin¬ 
cipal  amount  not  exceeding  fifty  per  cent.  (50%)  of  the  cash  cost 
or  fair  value  of  such  property  (whichever  shall  be  less),  the  principal 
amount  of  such  outstanding  bonds  shall  be  included  in  computing  the 
cash  cost  or  fair  value  of  such  property. .  Any  such  bonds  shall  be 
considered  as  included  within  the  meaning  of  the  words  “underlying 
securities”  as  used  in  this  Indenture,  and  thereupon  a  principal  amount 
of  bonds  hereby  secured,  equal  to  the  principal  amount  of  such  bonds, 
shall  be  added  to  the  principal  amount  of  bonds  reserved  under  the 
provisions  of  Section  3  of  this  Article  II ;  and  thereafter  such  addi¬ 
tional  bonds  so  reserved  shall  be  authenticated  and  delivered  upon  the 
terms  and  conditions  in  said  Section  3  provided,  for  the  purpose  of 
purchasing,  paying,  refunding  or  retiring  such  outstanding  underlying 
securities,  as  if  bonds  for  such  purpose  had  been  originally  reserved  under 
said  Section  3  at  the  date  of  the  execution  and  delivery  of  this  Indenture, 


91 


and  as  if  they  had  been  herein  mentioned  and  described  as  “underlying 
securities/’  and  as  if  the  mortgage  securing  the  same  had  been  herein 
described  as  one  of  the  “underlying  mortgages/’ 

Provided,  however,  that  no  such  bonds  shall  be  considered 
as  included  within  the  meaning  of  the  words  “underlying 
securities,”  as  used  in  this  Indenture,  unless  and  until  bonds 
hereby  secured  are,  or  have  previously  been,  authenticated  and 
delivered  under  the  provisions  of  this  Section  4  in  respect  of 
the  property  upon  which  such  bonds  are  secured  by  mortgage, 
or  unless  and  until  cash  is,  or  has  previously  been,  paid  out 
in  respect  of  such  property  pursuant  to  the  provisions  of 
Section  7  of  this  Article  II,  or  Section  5  of  Article  X  hereof; 
and  unless  and  until  the  cash  cost  or  fair  value  (whichever  is  less) 
of  such  property,  the  amount  of  additional  bonds  to  be  reserved 
under  the  provisions  of  Section  3  of  this  Article  II  in  respect  of 
such  bonds  and  compliance  with  the  limitations  in  this  clause  (6) 
contained,  are  evidenced  to  the  Trustee  by  the  certificate  provided 
for  in  Clause  B  of  Section  6  of  this  Article  II ;  and 

Provided  further  that  in  no  event  shall  additional  bonds 
hereby  secured  be  so  reserved,  in  respect  of  any  such  issue  of  bonds 
secured  by  mortgage  if  the  aggregate  principal  amount  thereof  is 
in  excess  of  fifty  per  cent.  (50%)  of  the  cash  cost  or  fair  value 
(whichever  shall  be  the  less)  of  such  property,  computed  in  the 
manner  hereinabove  provided ;  and 

Provided  further,  that  no  bonds  shall  be  authenticated  and 
delivered  as  aforesaid,  in  respect  of  property  subject  to  mort¬ 
gages  securing  bonds,  if  the  total  aggregate  principal  amount 
of  all  such  bonds  secured  by  mortgage  not  at  the  time  deposited 
or  to  be  deposited  hereunder  concurrently  with  such  authentica¬ 
tion  and  delivery,  will  thereby  be  increased  to  an  amount  in 
excess  of  twenty-five  per  cent.  (25%)  of  the  total  aggregate  prin¬ 
cipal  amount  of  all  bonds  outstanding  hereunder  and  then  to  be 
authenticated  and  delivered. 


See  pages 
108  and  154. 


See  page  81. 


See  page  96. 


92 


The  bonds  which  may  be  authenticated  and  delivered  under  the  pro¬ 
vision  of  this  Section  4  in  respect  to  property  subject  to  a  mortgage 
securing  bonds,  as  aforesaid,  shall  be  limited,  in  principal  amount,,  to 
the  amount,  if  any,  remaining  after  deducting  the  amount  of  the  prin¬ 
cipal  of  the  additional  bonds  so  to  be  reserved  with  respect  to  such  bonds 
from  seventy-five  per  cent.  (75%)  of  the  cash  cost  or  fair  value  (which¬ 
ever  shall  be  the  less)  of  such  property.  In  case  the  aggregate  principal 
amount  of  any  such  bonds  secured  by  mortgage  prior  in  lien  to  this 
Indenture  shall  exceed  fifty  per  cent.  (50%)  of  the  cash  cost  or  fair 
value  (whichever  shall  be  the  less)  of  such  additional  property, 
as  aforesaid,  bonds  may  nevertheless  be  authenticated  and  delivered  as 
provided  above,  if  bonds  secured  by  such  mortgage  to  a  principal  amount 
equal  to  such  excess  shall  be  deposited  with  the  Trustee  at  the  time  of 
the  authentication  and  delivery  of  bonds  hereunder  in  respect  to  such 
property,  and  no  bonds  shall  be  authenticated  or  delivered  under  any 
provision  of  this  Indenture  in  respect  of  such  excess. 

In  case,  in  accordance  with  the  provisions  of  Section  9  of  Article  I 
hereof,  bonds'  designated  as  “First  Mortgage  Gold  Bonds”  shall  be 
authenticated  and  delivered  hereunder,  no  bonds  shall  be  authenticated 
and  delivered  thereafter  under  the  provisions  of  this  Section  4  in  respect 
of  property  subject  to  a  mortgage,  as  hereinabove  otherwise  permitted. 

(7)  No  bonds  shall  be  authenticated  and  delivered  under  the  pro¬ 
visions  of  this  Section  4  in  respect  of  any  new  or  additional  property  or 
extensions,  improvements  or  additions  which  are  not  subject,  or 
not  at  the  time  of  such  authentication  and  delivery  made  subject, 
to  the  direct  lien  of  this  Indenture,  or  which  are  subject  to  any  mortgage 
or  similar  lien  prior  to  the  lien  of  this  Indenture  other  than  the 
liens  of  underlying  mortgages  securing  underlying  securities  in  respect 
whereof  bonds  have  been,  or  are  at  such  time  to  be,  reserved  hereunder. 

Expenditure  (8)  The  Company  shall  not  execute  and  the  Trustee  shall  not 

of  $1,559,000 

before  further  authenticate  and  deliver  bonds  secured  hereby  under  the  provisions  of 

be  issued.  this  Section  4  until  the  Company  shall  have  expended  in  cash  after 


See  page  73. 


93 


January  1,  1922,  the  sum  of  $1,559,000  to  purchase  or  acquire  new  or 
additional  permanent  tangible  property,  or  to  construct  or  acquire  perma¬ 
nent  tangible  extensions,  improvements  or  additions  (including  equip¬ 
ment  and  appliances)  of  and  to  the  plants,  systems  or  property  of  the 
Company  subject  to  the  lien  of  this  Indenture,  and  used  or  to  be  used  by 
the  Company,  in  the  business  of  generating,  manufacturing,  distributing, 
and/or  supplying  light,  heat  and/or  power  to  the  public  by  means  of  elec¬ 
tricity,  or  in  the  business  of  furnishing  street  and/or  interurban  railway 
service  to  the  public,  and  shall  have  tiled  with  the  Trustee  a  certificate  (or 
several  certificates)  signed  and  verified  by  the  President  or  a  Vice-Presi¬ 
dent,  and  by  the  Treasurer  or  an  Assistant  Treasurer  of  the  Company, 
and  by  an  engineer  selected  by  the  Company  and  acceptable  to  the  Trus¬ 
tee,  who  may  be  in  the  employ  of  the  Company,  showing  to  the  satisfaction 
of  the  Trustee,  that  such  sum  of  $1,559,000  in  cash  has  been  so  expended 
by  the  Company.  No  bonds  may  be  executed  by  the  Company  or  authen¬ 
ticated  and  delivered  by  the  Trustee  under  this  Section  4  and  no  payment 
of  cash  shall  be  made  by  the  Trustee  under  any  provision  of  this  Inden¬ 
ture,  with  respect  to  any  expenditure  included  in  any  such  certificate  or 
certificates. 

Section  5.  Bonds  shall  not  be  authenticated  or  delivered  under  Sec¬ 
tions  4  or  7  of  this  Article  II  unless  and  until  the  net  earnings  of  the 
Company,  as  hereinafter  defined,  for  a  period  of  twelve  (12)  consecutive 
calendar  months  within  the  fifteen  calendar  months  immediately  pre¬ 
ceding  the  application  for  such  authentication  and  delivery  of  bonds, 
shall  have  been,  on  each  occasion,  equal  to  at  least  twice  the  amount 
required  to  pay  the  annual  interest  on  (1)  all  bonds  hereby  secured 
at  the  time  outstanding,  (2)  those  applied  for,  (3)  all  underlying  securi¬ 
ties,  and  (4)  all  other  indebtedness  at  the  time  secured  by  mortgage  or 
other  similar  lien  on  the  trust  estate  or  any  part  thereof  prior  to  the  lien 
hereof ;  but  only  to  the  extent  under  ( 3 )  and  ( 4 )  that  the  same  have 
not  been  deposited,  or  are  not  at  the  time  deposited,  with  the  Trustee 
under  the  provisions  of  this  Indenture;  provided,  however,  that  until  the 


See  pages  87 
and  103. 

Requirements 
with  respect 
to  net  earn¬ 
ings  of  the 
Company. 


94 


See  page  79. 


See  pages 
87  and  103. 


Method  of 
determining 
net  earn¬ 
ings  of  the 
Company. 


Company  shall  file  with  the  Trustee  the  certificate  or  certificates  of  an 
engineer  or  engineers  or  other  experts  and  the  opinion  or  opinions  of 
counsel,  selected  or  approved  by  the  Trustee,  described  and  provided  for 
in  subdivision  (e)  of  Section  1  of  Article  II  hereof,  and  setting  forth 
the  matters  therein  specified,  bonds  shall  not  be  authenticated  or  delivered 
under  Sections  4  or  7  of  this  Article  II  unless  and  until  the  net  earnings 
of  the  Company  from  its  electric  light  and  power  properties  alone,  as  here¬ 
inafter  defined,  for  a  period  of  twelve  (12)  consecutive  calendar  months 
within  the  fifteen  calendar  months  immediately  preceding  the  application 
for  such  authentication  and  delivery  of  bonds,  shall,  in  addition,  have 
been,  on  each  occasion,  equal  to  at  least  one  and  three-quarters  times  the 
amount  required  to  pay  the  annual  interest  on  (1)  all  bonds  hereby 
secured  at  the  time  outstanding,  (2)  those  applied  for,  (3)  all  underlying 
securities,  and  (4)  all  other  indebtedness  at  the  time  secured  by  mortgage 
or  other  similar  lien  on  the  trust  estate  or  any  part  thereof  prior  to  the 
lien  hereof;  but  only  to  the  extent  under  (3)  and  (4)  that  the  same  have 
not  been  deposited,  or  are  not  at  the  time  deposited,  with  the  Trustee 
under  the  provisions  of  this  Indenture. 

For  the  purposes  of  this  Article  II,  the  net  earnings  of  the  Company 
shall  be  ascertained  as  follows:  From  the  total  of  the  operating  and 
non-operating  revenues  of  the  Company,  there  shall  be  deducted  all 
operating  expenses  (including  therein  all  actual  expenditures  for  cur¬ 
rent  maintenance  and  all  rentals,  license  charges,  taxes  and  insurance) 
and  the  balance  shall  constitute  the  net  earnings  of  the  company. 
In  computing  the  amount  of  such  net  earnings  no  more  than  ten  per 
cent.  (10%)  in  the  aggregate  thereof  shall  be  derived  from  (1)  any 
dividends  or  interest  upon  any  shares  of  stocks,  bonds  or  other  securities 
owned  by  the  Company,  and/or  (2)  income  or  earnings  from  properties 
leased  to  the  Company,  and/or  (3)  income  or  earnings  from  prop¬ 
erties  not  at  the  time  subject  to  the  direct  lien  of  this  Indenture.  The 
amount  expended  for  current  maintenance  and  to  be  included  in  operating 
expenses  as  above  shall  not  be  less  than  the  amount  required,  if  any,  by 
any  governmental  authority  having  jurisdiction  in  the  premises  to  be  so 


95 


expended,  and  the  amount  included  therein  as  expended  for  current 
maintenance  for  the  period  in  question  shall  not  be  less  than  seven  per 
cent.  (7%)  of  the  gross  operating  revenues  of  the  Company,  or  such 
greater  or  lesser  percentage  thereof  as  may  be  fixed,  from  time  to  time,  in 
accordance  with  Section  16  of  Article  V  hereof,  whether  or  not  such 
amount  shall  actually  have  been  so  expended. 

For  the  purposes  of  this  Article  II,  the  net  earnings  of  the  Company 
from  its  electric  light  and  power  properties  shall  be  ascertained  as 
follows :  From  the  total  of  the  operating  and  non-operating  revenues  of 
the  Company  from  such  properties,  there  shall  be  deducted  all  operating- 
expenses  thereof  (including  therein  all  actual  expenditures  for  current 
maintenance  and  all  rentals,  license  charges,  taxes  and  insurance)  and 
the  balance  shall  constitute  the  net  earnings  of  the  Company  from  such 
properties.  In  computing  the  amount  of  such  net  earnings,  no  more  than 
ten  per  cent.  (10%)  in  the  aggregate  thereof  shall  be  derived  from  (1) 
any  dividends  or  interest  upon  any  shares  of  stocks,  bonds  or  other  secur¬ 
ities  owned  by  the  Company,  and/or  (2)  income  or  earnings  from  any 
properties  leased  to  the  Company,  and/or  (3)  income  or  earnings  from 
any  properties  not  at  the  time  subject  to  the  direct  lien  of  this  Indenture. 
The  amount  expended  for  current  maintenance  and  to  be  included  in 
operating  expenses  as  above  shall  not  be  less  than  the  amount  required, 
if  any,  by  any  governmental  authority  having  jurisdiction  in  the  premises 
to  be  so  expended,  and  the  amount  included  therein  as  expended  for  cur¬ 
rent  maintenance  for  the  period  in  question  shall  not  be  less  than  seven 
per  cent.  (7%)  of  the  gross  operating  revenues  of  the  electric  light  and 
power  properties  of  the  Company,  or  such  greater  or  lesser  percentage 
thereof  as  may  be  fixed,  from  time  to  time,  in  accordance  with  Section  16 
of  Article  V  hereof,  whether  or  not  such  amount  shall  actually  have  been 
so  expended. 

In  case  within  or  after  said,  twelve  months  period  the  Company  shall 
have  acquired  any  property,  and  the  same,  if  acquired  by  the  Company, 
shall  be  subjected  to  the  direct  lien  of  this  Indenture,  the  Company  in 
computing  its  net  earnings  or  the  net  earnings  of  its  electric  light  and 


See  page  121. 


Method  of 
determining 
net  earnings 
of  Electric 
Light  and 
Power  Prop¬ 
erties. 


Instruments  to 
be  furnished 
the  Trustee 
prior  to  the 
authentication 
of  bonds. 


See  pages  77 
and  87. 


Resolution 
of  the  Board 
of  Directors 
of  the  Com¬ 
pany. 


See  page  87. 


Certificate 
of  two  officers 
of  the  Com¬ 
pany. 


See  page  92. 


90 

power  properties,  as  the  case  may  be,  shall  be  entitled  to  include,  to  the 
extent  that  the  same  may  not  have  been  otherwise  included,  the  net  earn¬ 
ings  of  such  property  for  the  whole  of  said  twelve  months  period,  if  said 
property  shall  have  been  acquired  after  said  period,  or  if  said  property 
shall  have  been  acquired  during  said  period,  then  for  the  portion  of  said 
twelve  months  period  prior  to  acquisition.  The  net  earnings  of  any  prop¬ 
erty  so  acquired  for  the  period  preceding  acquisition  shall  be  ascertained 
and  computed  as  if  such  property  had  been  owned  by  the  Company  during 
such  period. 

Section  6.  No  bonds  shall  be  authenticated  and  delivered  pursuant 
to  the  provisions  of  Section  4  of  this  Article  II,  unless  and  until  there 
shall  have  been  delivered  to  the  Trustee  the  following  instruments  in 
addition  to  the  instruments,  if  any,  required  to  be  furnished  under  the 
provisions  of  Sections  1  and  4  of  this  Article  II : 

A.  A  copy  of  a  resolution,  duly  adopted  by  the  Board  of  Directors 
of  the  Company,  certified  under  its  corporate  seal  by  its  Secretary  or  an 
Assistant  Secretary,  requesting  the  authentication  and  delivery,  pursuant 
to  the  provisions  of  Section  4  of  this  Article  II,  of  a  specified  principal 
amount  of  bonds,  of  the  series  therein  designated. 

B.  A  certificate  (or  several  certificates)  signed  and  verified  by  the 
President  or  a  Vice-President,  and  by  the  Treasurer  or  an  Assistant 
Treasurer  of  the  Company,  and  by  an  engineer  selected  by  the  Company 
and  acceptable  to  the  Trustee,  who  may  be  in  the  employ  of  the  Company, 
showing,  as  the  case  may  be,  in  substance,  as  follows: 

(1)  That,  subsequent  to  January  1,  1922,  and  in  addition 
to  the  property  possessed  by  the  Company  on  that  date,  and  in 
addition  to  the  property  included  in  the  certificate  or  certificates 
required  to  be  filed  by  the  Company  under  the  provisions  of  sub¬ 
division  (8)  of  Section  4  of  Article  II  hereof,  the  Company  has 
purchased  or  acquired  new  or  additional  permanent  tangible  prop¬ 
erties,  or  has  made,  constructed  or  acquired  permanent  tangible 


97 


extensions,  improvements  or  additions  of  and  to  its  plants,  systems 
or  property,  as  the  case  may  be,  subject  to  the  lien  of  this  Inden¬ 
ture,  located  within  a  radius  of  one  hundred  miles  of  the  inter¬ 
section  of  what  are  now  Broad  and  High  Streets  in  the  City 
of  Columbus,  Ohio ;  that  the  same,  if  electric  light  and  power  prop¬ 
erties,  are  physically  connected  by  transmission  or  service  lines 
with  electric  light  and  power  properties  subject  to  the  lien  hereof 
at  the  date  of  the  execution  and  delivery  of  this  Indenture,  and 
if  street  railway  properties,  are  physically  connected  by  railway 
lines  with  street  railway  properties  subject  to  the  lien  hereof  at 
the  date  of  the  execution  and  delivery  of  this  Indenture;  that  the 
same  are  used  or  to  be  used  by  the  Company  in  the  business  of 
generating,  manufacturing,  distributing  and/or  supplying  light, 
heat  and/or  power  to  the  public  by  means  of  electricity,  and/or 
in  the  business  of  furnishing  street  and/or  interurban  railway 
service  to  the  public;  a  description  thereof  in  reasonable  detail; 
the  actual  cost  thereof  to  the  Company;  whether  such  cost  is  in 
excess  of  the  fair  value  thereof  to  the  Company,  and  if  so,  the 
amount  of  such  value;  and  that  no  part  of  the  cost  thereof  or  the 
expenditures  made  therefor,  included  in  the  certificate,  were  prop¬ 
erly  chargeable  to  operating  expenses  or  were  for  repairs,  main¬ 
tenance,  replacements  or  renewals,  except  to  the  extent  permitted 
by  subdivision  (1)  of  Section  4  of  this  Article  II. 

If  the  certificate  includes  any  new  or  additional  property 
comprising  a  public  utility  property,  or  a  street  railway  property 
or  a  property  subject  to  a  mortgage  securing  bonds,  as  these  terms 
are  defined  or  used  in  Section  4  of  this  Article  II,  such  property 
shall  be  separately  described,  the  actual  cost  thereof  to  the  Com¬ 
pany  shall  be  separately  stated,  and  if  such  cost  is  in  excess  of  the 
fair  value  thereof  to  the  Company,  the  fair  value  thereof  shall 
likewise  be  separately  stated. 

Until  the  Company  shall  have  filed  with  the  Trustee  the  cer¬ 
tificate  or  certificates  of  an  engineer  or  engineers  or  other  experts, 


See  page  88 


See  page  87 


98 


See  page  79. 


See  page  103. 

See  pages  151 
and  154. 

See  page  121. 


and  the  opinion  or  opinions  of  counsel,  selected  or  approved  by  the 
Trustee,  described  and  provided  for  in  subdivision  (e)  of  Section  1 
of  Article  II  hereof  and  setting  forth  the  matters  therein  specified, 
and  also  so  long  as  any  of  the  bonds  of  6%  Series  due  1911  are  out¬ 
standing,  the  certificate  shall  in  addition  state  whether  or  not 
there  are  included  therein  any  electric  light  and  power  properties 
upon  which  any  of  the  divisional  railway  mortgages  are  a  lien; 
and  if  such  properties  are  included  they  shall  be  separately 
described,  the  actual  cash  cost  thereof  to  the  Company  shall  be 
separately  stated,  and  if  such  cost  is  in  excess  of  the  fair  value 
thereof  to  the  Company,  the  fair  value  thereof  shall  likewise 
be  stated. 

(2)  That  no  part  of  the  new  or  additional  properties  or 
permanent  extensions,  improvements  or  additions  described  in  the 
certificate  consists  of  shares  of  stock,  bonds  or  other  securities, 
or  franchises;  that  no  part  of  the  same  has  been  acquired  in  ex¬ 
change  or  substitution  for  property  released  or  disposed  of  free 
from  the  lien  of  this  Indenture  or  of  any  underlying  mortgage ;  that 
no  part  of  the  same  has  previously  been  made  the  basis  for  the 
withdrawal  of  cash  under  the  provisions  of  this  Indenture  or  of 
any  underlying  mortgage  representing  the  proceeds  of  property 
released  from  the  lien  thereof  or  taken  in  eminent  domain  pro¬ 
ceedings  or  insurance  moneys;  and  that  no  part  of  the  same  has 
been  used  in  any  certificate  previously  furnished  to  the  Trustee 
under  the  provisions  of  this  Section  6  or  of  Section  7  of  this 
Article  II  or  of  Sections  4  and  5  of  Article  X  hereof  or  of  Sec¬ 
tion  16  of  Article  V  hereof  as  the  basis  for  the  authentication  of 
bonds,  the  release  of  property  and/or  the  withdrawal  and/or  in 
lieu  of  cash  in  accordance  with  any  of  said  sections. 

(3)  Whether  any  new  or  additional  property  described  in 
the  certificate  is  at  the  time  subject  to  a  mortgage  securing  bonds, 
and  if  so,  the  total  principal  amount  of  such  bonds;  a  brief  descrip- 


99 


tion  of  such  indebtedness  and  of  the  mortgage  securing  the  same ; 
the  amount  of  such  bonds,  if  any,  to  be  deposited  with  the  Trustee ; 
the  amount  of  bonds  hereby  secured  to  be  reserved  in  respect 
thereof ;  and  such  other  facts  as  will  show  that  the  cash  cost  or 
fair  value  of  such  property  is  computed  in  accordance  with  the 
provisions  of  sub-division  (6)  of  Section  4  of  this  Article  II,  see  page  90. 
and  that  the  amount  of  such  bonds  is  within  the  limitations  in 
said  sub-division  (6)  of  Section  4  provided,  and  that  the  bonds 
hereby  secured  to  be  authenticated  and  delivered  in  respect  of 
such  property  are  within  the  limitations  and  provisions  in  said 
Section  4  provided. 

(4)  Whether  any  public  utility  property  is  included  in  the 
certificate. 

(5)  Whether  any  street  railway  properties  or  any  extensions, 
improvements  or  additions  to  any  street  railway  properties  are 
included  in  the  certificate,  and  whether  or  not  any  portions  thereof 
are  located  outside  of  the  territorial  limits  of  the  County  of 
Franklin,  Ohio. 

(6)  That  to  the  knowledge  of  the  signers  of  the  certificate 
the  Company  has  good  title  to  the  new  or  additional  properties 
or  extensions,  improvements  or  additions  covered  by  the  cer¬ 
tificate;  that  the  same  are  subject  to  the  direct  lien  of 
this  Indenture  and  are  not  subject  to  any  mortgage  or  other  sim¬ 
ilar  lien  prior  to  the  lien  of  this  Indenture  other  than  liens  of 
underlying  mortgages  securing  underlying  securities  in  respect 
whereof  bonds  hereby  secured  have  been  or  are  then  to  be  reserved 
hereunder;  and  that  no  part  thereof  is,  within  their  knowledge, 
subject  to  any  liens  for  labor  or  material  or  other  similar  liens, 
except  undetermined  liens  or  charges,  if  any,  incidental  to  con¬ 
struction. 

(7)  Whether  the  certificate  includes  any  property  located 
in  whole  or  in  part  in  a  municipal  division,  as  this  term  is  herein- 


100 


See  pages 
151  and  154, 


See  pages  77, 
87  and  93. 


Independent 

engineer’s 

certificate. 


above  defined,  other  than  a  municipal  division  in  which  the  Com¬ 
pany  at  the  date  of  this  Indenture  is  supplying  light,  heat  and/or 
power  or  street  or  interurban  railway  service  to  the  public,  as  the 
case  may  be,  and  other  than  any  such  new  municipal  division  men¬ 
tioned  in  any  previous  certificate  furnished  under  this  Section  6 
or  under  the  provisions  of  Sections  4  and  5  of  Article  X  hereof, 
and  if  so,  the  name  and  location  of  such  new  municipal  division ; 

(8)  That  the  Company  is  not,  to  the  knowledge  of  the  signers 
of  the  certificate,  in  default  in  the  performance  or  observance  of 
any  of  the  terms  or  covenants  of  this  Indenture. 

Every  such  certificate  shall  be  dated  and  sworn  to  not  more  than 
ninety  days  prior  to  the  application  for  the  authentication  of  bonds, 
except  that  in  case  by  reason  of  any  limitation  in  Sections  1,  4  and/or 
5  of  this  Article  II  contained,  the  Company  shall  not  be  entitled  to  the 
authentication  and  delivery  of  the  total  amount  of  bonds  which  it  would 
otherwise  be  entitled  to  in  respect  of  the  new  or  additional  properties  or 
extensions,  improvements  or  additions  described  in  such  certificate,  the 
bonds,  the  authentication  and  delivery  of  which  shall  have  been  prevented 
by  reason  of  any  such  limitation,  may  thereafter  be  authenticated  and 
delivered,  as  and  when  any  such  limitation  shall  be  removed,  without 
furnishing  to  the  Trustee  a  new  or  additional  certificate  as  provided  for 
in  this  sub-division  B,  in  respect  to  said  new  or  additional  properties, 
extensions,  improvements  or  additions  so  described  in  the  certificate 
previously  furnished  hereunder  to  the  Trustee,  notwithstanding  that  such 
certificate  or  certificates  so  previously  furnished  may  be  dated  and  sworn 
to  more  than  ninety  days  prior  thereto  ;  provided,  however,  that  all  other 
conditions  of  this  Indenture  shall  be  complied  with. 

C.  In  case  a  public  utility  property  is  mentioned  and  described 
in  the  foregoing  certificate,  a  certificate  signed  by  an  independent  engi¬ 
neer  (who  may  be  in  the  employ  of  the  Company),  appointed  by  the 
Trustee  and  approved  by  the  Board  of  Directors  of  the  Company,  stating 


101 


the  fail*  value,  in  his  opinion,  of  the  physical  property  constituting  and 
comprising  such  public  utility  property. 

D.  A  certificate  signed  by  the  President  or  a  Vice-President  and  Net  Earn¬ 
ings  Cer- 

by  the  Treasurer  or  an  Assistant  Treasurer  of  the  Company  setting  tiflcate- 
forth  the  amount  of  the  net  earnings  of  the  Company,  and  if  required 
the  net  earnings  of  the  electric  light  and  power  properties  of  the 
Company,  calculated  in  accordance  with  the  provisions  of  Section  5  of  see  page  93. 
this  Article  II,  for  a  period  of  twelve  consecutive  calendar  months, 
therein  specified,  within  the  fifteen  calendar  months  immediately  pre¬ 
ceding  the  application  for  the  authentication  and  delivery  of  bonds,  and 
the  aggregate  principal  amount  of  (1)  all  bonds  hereby  secured  at  the 
time  outstanding,  (2)  those  applied  for,  (3)  all  underlying  securities, 
and  (4)  all  other  indebtedness  at  the  time  secured  by  mortgage  or  other 
similar  lien  upon  the  trust  estate  or  any  part  thereof  prior  to  the  lien 
hereof,  but  only  to  the  extent  under  (3)  and  (4)  that  the  same  have  not 
been  deposited,  or  are  not  at  the  time  to  be  deposited,  with  the  Trustee. 

The  certificate  shall  state  that  such  net  earnings  have  been  computed 
and  ascertained  in  the  manner  provided  in  Section  5  of  this  Article  II  see  page  93. 
and  shall  state  separately  the  operating  revenues,  non-operating  revenues, 
operating  expenses  and  net  earnings  of  the  Company,  or  of  its  electric  light 
and  power  properties,  as  the  case  may  be,  showing,  for  the  period  in  ques¬ 
tion,  the  amounts  included  in  operating  expenses  for  current  manite- 
nance,  rentals,  license  charges,  taxes  and  insurance,  and  shall  state  that 
the  amounts  included  for  current  maintenance  are  not  less  than  the 
amount  required,  if  any,  by  any  governmental  authority  having  jurisdic¬ 
tion,  the  amounts  included  in  operating  exprenses  for  current  mainte- 
greater  or  lesser  percentage  thereof  as  may  be  fixed,  from  time  to  time, 
in  accordance  with  Section  16  of  Article  V  hereof)  of  the  gross  operating  see  page  121. 
revenues  of  the  Company,  or  of  its  electric  light  and  power  properties, 
as  the  case  may  be.  The  certificate  shall  also  state  that  no  more  than  ten 
per  cent.  (10%)  in  the  aggregate  of  such  net  earnings  of  the  Company 
has  been  derived  from  (1)  any  dividends  or  interest  upon  any  shares  of 


102 


Conveyances 
with  opinion 
of  counsel. 


Further 
opinion  of 
counsel. 


stock,  bonds  or  other  securities  owned  by  the  Company  and/or  (2)  in¬ 
come  or  earnings  from  properties  leased  to  the  Company  and/or  (3) 
income  or  earnings  from  properties  not  at  the  time  subject  to  the  direct 
lien  of  this  Indenture  or,  in  case  the  certificate  also  relates  to  the  net 
earnings  of  the  electric  light  and  power  properties  of  the  Company,  that 
no  more  than  ten  per  cent  (10%)  in  the  aggregate  of  such  net  earnings, 
has  been  derived  from  (1)  any  dividends  or  interest  upon  any  shares  of 
stock,  bonds  or  other  securities  owned  by  the  Company  and/or  (2) 
income  or  earnings  of  any  properties  leased  to  the  Company  and/or  (3) 
income  or  earnings  from  any  properties  not  at  the  time  subject  to  the 
direct  lien  of  this  Indenture. 

E.  All  such  deeds,  conveyances,  transfers  or  instruments  of  fur¬ 
ther  assurance  as  may  be  necessary  for  the  purpose  of  effectually  sub¬ 
jecting  to  the  direct  lien  and  operation  of  this  Indenture,  the  properties, 
extensions,  improvements  or  additions,  in  respect  whereof  bonds  are  to 

i 

be  authenticated,  together  with  an  opinion  of  counsel  selected  by  the 
Company  and  acceptable  to  the  Trustee,  who  may  be  counsel  for  the 
Company,  that  the  same  are  sufficient  for  the  purpose,  or  the  opinion  of 
such  counsel  that  no  such  deeds,  conveyances,  transfers  or  instruments 
are  necessary. 

F.  An  opinion  or  opinions  of  one  or  more  counsel  selected  by  the 
Company  and  acceptable  to  the  Trustee,  who  may  be  counsel  for  the 
Company,  stating:  (1)  that  the  instruments  to  be  furnished  or  pre- 
viously  furnished  the  Trustee  constitute  sufficient  authority  to  it  to 
authenticate  and  deliver  the  bonds  applied  for,  that  the  authentication 
and  delivery  thereof  is  in  accordance  with  all  of  the  conditions,  restric¬ 
tions  and  limitations  set  forth  in  this  Indenture  with  respect  thereto, 
and  that  the  purposes  for  which  bonds  are  to  be  authenticated  and  deliv¬ 
ered  are  purposes  for  which  bonds  may  be  lawfully  authenticated  and 
delivered  under  this  Indenture;  (2)  that  the  Company  has  acquired  good 
title  to  any  new  or  additional  property,  extensions,  improvements  or  addi- 


103 


tions  mentioned  and  described  in  the  certificate  provided  for  in  sub¬ 
division  B  of  this  Section  6  and  that  the  same  are  subject  to  the  direct 
lien  of  this  Indenture;  (3)  that  the  new  or  additional  property,  exten¬ 
sions,  improvements  or  additions  mentioned  and  described  in  said  cer¬ 
tificate  are  free  and  clear  of  mortgages  or  other  liens  prior  to  the  lien  of 
this  Indenture  other  than  the  liens  of  any  underlying  mortgages,  in 
respect  whereof  bonds  hereby  secured  have  been,  or  are  then  to  be, 
reserved  hereunder,  other  than  undetermined  liens  or  charges,  if  any, 
incidental  to  construction,  and  other  than  liens  for  current  taxes,  if  any, 
and  that  the  same  are  free  and  clear  of  easements  or  other  similar  en¬ 
cumbrances  except  such  as  do  not,  in  his  or  their  opinion,  impair  the  use 
thereof  to  the  Company;  (4)  that  the  Company  has  lawful  power  to  own 
and  operate  the  same;  and  (5)  that,  if  any  new  municipal  division  is  men¬ 
tioned  in  the  certificate  provided  for  in  subdivision  B  of  this  Section  6, 
the  Company  is  the  owner  of  a  franchise  or  franchises  subject  to  the 
lien  of  this  Indenture  and  free  from  any  lien  prior  thereto  except  under¬ 
lying  mortgages  and  current  taxes,  lawfully  entitling  it  to  distribute 
and/or  supply  light,  heat,  and/or  power  to  the  public  by  means  of 
electricity  and/or  to  furnish  street  and/or  interurban  railway  service 
to  the  public,  as  the  case  may  be,  in  said  new  municipal  subdivision,  or 
that  no  franchise  is  necessary  for  that  purpose. 

Section  7.  Bonds  secured  by  this  Indenture  may,  from  time  to  time, 
be  executed  by  the  Company  and  delivered  to  the  Trustee,  and,  thereupon, 
the  same  shall  be  authenticated  and  delivered  by  the  Trustee  to  the 
Company,  or  upon  its  written  order,  without  further  action  on  the  part 
of  the  Company  other  than  (1)  compliance  with  the  provisions  of  Sec¬ 
tions  1  and  5  of  this  Article  II,  in  so  far  as  applicable,  (2) 
the  delivery  to  the  Trustee  of  a  copy  of  a  resolution  duly 
adopted  by  the  Board  of  Directors  of  the  Company,  certified 
under  its  corporate  seal  by  its  Secretary  or  an  Assistant  Secretary 
to  have  been  so  adopted,  requesting  the  authentication  and  delivery 
of  a  specified  principal  amount  of  bonds  pursuant  to  the  provisions  of 


See  page  96. 


Issue  of  bonds 
against  depos¬ 
ited  cash. 


See  pages  77 
and  93. 


104 


See  page  101. 


See  page  87. 


See  pages  96, 
100  and  102. 


Refunding  of 
bonds  due  or 
called  for 
redemption. 


this  Section,  of  the  series  therein  specified,  (3)  the  delivery  to  the  Trus¬ 
tee  of  the  certificate  provided  for  in  Subdivision  D  of  Section  6  of  this 
Article  II,  and  (4)  the  deposit  with  the  Trustee  of  cash  equal  to  the 
aggregate  principal  amount  of  the  bonds  to  be  authenticated  and  deliv¬ 
ered,  provided,  however,  that  the  aggregate  amount  of  such  cash  on 
deposit- witli  the  Trustee  under  the  provisions  of  this  Section  7  shall  not 
at  any  time  exceed  the  sum  of  three  million  dollars,  or,  in  case  the  amount 
of  bonds  outstanding  hereunder  shall  at  any  time  exceed  \thirty  million 
dollars,  shall  not  at  any  time  exceed  a  sum  equal  to  ten  per  cent.  (10%) 
of  the  aggregate  principal  amount  of  such  outstanding  bonds.  Any  cash 
so  deposited  is  elsewhere  in  this  Indenture  sometimes  referred  to  as 
“deposited  cash.”  Whenever  the  Company  shall  thereafter  be  or  become 
entitled  to  the  authentication  and  delivery  of  bonds  under  the  provisions 
of  Section  4  of  this  Article  II,  the  Trustee,  without  further  action  on  the 
part  of  the  Company  other  than  the  delivery  to  the  Trustee  of  the  certifi¬ 
cates  and  other  instruments  mentioned  and  provided  for  in  sub  divisions 
B,  C  (if  required),  E  and  F  of  Section  6  of  this  Article  II  (with  such 
appropriate  insertions,  omissions  and  variations  as  are  applicable  to  the 
payment  of  deposited  cash),  shall,  from  time  to  time,  pay  over  to  the 
Company,  or  upon  its  order,  in  lieu  of  each  bond  to  the  authentication 
and  delivery  of  which  the  Company  may  then  be  so  entitled,  deposited 
cash  to  an  amount  equal  to  the  aggregate  principal  amount  of  such  bonds. 
Unless  and  until  so  paid  by  the  Trustee  to  the  Company,  the  Trustee  shall 
hold  any  deposited  cash  as  a  part  of  the  trust  estate,  and  it  shall  allow 
and  pay  to  the  Company  interest  thereon  at  such  rate  as  the  Trustee  and 
the  Company  may  agree  upon.  The  Trustee  shall  be  under  no  duty  to 
see  to  the  application  of  any  cash  so  paid  to  the  Company. 

Section  8.  Whenever  all  of  the  bonds  of  any  series  issued  under 
this  Indenture  and  then  outstanding  shall  have  become  due,  or  will 
within  twelve  months  mature,  or  shall  have  been  called  for  redemp¬ 
tion,  and  the  amount  of  cash  necessary  to  pay  the  principal  and 
interest  (and  premium,  if  any)  thereof  to  maturity  or  date  of 


105 


redemption,  as  the  ease  may  be,  shall  have  been  deposited  with 
the  Trustee  pursuant  to  any  provision  of  this  Indenture,  the  Company 
may  then,  or  at  any  time  thereafter,  execute  and  deliver  to  the  Trustee, 
and  the  Trustee  shall  thereupon  authenticate  and  deliver  to  the  Company 
or  upon  its  written  order,  new  bonds  secured  by  this  Indenture  of  a  prin¬ 
cipal  amount  equal  to  the  aggregate  of  the  principal  amount  of  the  bonds 
in  respect  whereof  such  cash  shall  have  been  so  deposited,  without  fur¬ 
ther  action  oil  the  part  of  the  Company  other  than  compliance  with  the 
provisions  of  Section  1  of  this  Article  II,  in  so  far  as  applicable,  see  page  77. 
the  delivery  to  the  Trustee  of  a  resolution  duly  adopted  by  its  Board  of 
Directors,  certified  under  its  corporate  seal  by  its  Secretary  or  an  Assist¬ 
ant  Secretary  to  have  been  so  adopted,  requesting  the  authentication  and 
delivery,  pursuant  to  the  provisions  of  this  Section  8  of  a  specified  prin¬ 
cipal  amount  of  bonds,  of  the  series  therein  specified.  All  cash  paid  to 
the  Trustee  under  the  provisions  of  this  Section  8  shall  be  applied  to  the 
payment  of  the  principal  and  interest  (and  premium  if  any)  due  with 
respect  to  the  bonds  issued  under  this  Indenture  which  shall  so  have 
become  due,  or  within  twelve  months  will  mature  or  have  been  called 
for  redemption. 

Each  and  every  new  bond  authenticated  and  delivered  under  the 
provisions  of  this  Section  8,  except  as  in  this  Indenture  otherwise  pro¬ 
vided,  may  be  thereafter  refunded  or  replaced  in  the  manner  in  this 
Section  provided. 

Section  9.  Whenever  the  terms  of  anv  Section  of  this  Article  II  signature  o« 

"  orders  or  re- 

require  an  order  or  request  from  the  Company  to  be  delivered  to  the  company. 
Trustee  for  the  purpose  of  obtaining  the  authentication  and  delivery  of 
bonds,  or  the  payment  of  deposited  cash,  such  order  or  request  shall 
be  sufficiently  executed,  if  signed  on  behalf  of  the  Company  by  its  Presi¬ 
dent  or  a  Vice-President  and  by  its  Treasurer  or  an  Assistant  Treasurer, 
or  by  such  officer  or  officers  as  the  Board  of  Directors  of  the  Company 
may  by  resolution  direct. 


106 


Trustee  may 
rely  on  certain 
instruments. 


Directors  may 
fix  price  for 
sale  of  bonds. 


Redemption 
of  bonds. 


The  instruments  required  or  provided  for  by  any  provisions  of  this 
Article  II  to  be  delivered  to  the  Trustee  in  respect  to  the  authentication 
and  delivery  of  bonds  or  the  payment  of  deposited  cash,  shall  be  received 
by  the  Trustee  as  conclusive  evidence  of  the  accuracy  of  any  statement 
therein  contained  pertaining  to  its  right  or  duty  to  authenticate  and 
deliver  bonds  or  to  pay  deposited  cash  pursuant  to  the  provisions  of  this 
Article  II,  and  shall  be  full  warrant,  authority  and  protection  to  the 
Trustee,  acting  on  the  faith  thereof,  for  the  authentication  and  delivery 
by  it  of  such  bonds  or  the  payment  of  such  deposited  cash;  but  the 
Trustee  may,  in  its  discretion,  and  if  requested  so  to  do  in  writing  by 
the  holders  of  not  less  than  fifteen  per  cent.  (15%)  in  principal  amount 
of  the  bonds  hereby  secured  at  the  time  outstanding  and  if  furnished 
with  adequate  security  and  indemnity  against  its  costs  and  expenses, 
shall  require  such  further  reasonable  evidence  of  the  accuracy  of  the 
statements  contained  in  any  such  instruments  as  to  it  may  seem 
desirable. 

Section  10.  Nothing  in  this  Indenture  contained  shall  limit  the 
power  of  the  Board  of  Directors  of  the  Company  to  fix  the  xirice  at  which 
the  bonds  authenticated  and  delivered  hereunder  may  be  issued  and  sold, 
but  any  or  all  of  said  bonds  may  be  sold  and  disposed  of  upon  such  terms 
and  for  such  considerations  as  the  Board  of  Directors  of  the  Company 
may  see  fit,  subject  to  any  provisions  of  law  in  respect  thereto. 


ARTICLE  III. 

Redemption  of  Bonds. 

Section  1.  In  the  creation  of  any  series  of  bonds  issued  hereunder 
the  Company  may  reserve  the  right  to  redeem  and  x>ay  off,  before  matur¬ 
ity,  all  or  any  part,  or  only  all,  of  the  bonds  of  such  series  at  such  time  or 
times,  and  from  time  to  time,  and  on  such  terms  as  the  Board  of 
Directors  of  the  Company  may  determine  and  as  shall  be  appropriately 
expressed  in  the  bonds  of  such  series,  subject,  however,  to  the  provisions 


107 


of  Section  4  of  Article  I  hereof  with  respect  to  bonds  of  6%  Series 
due  1941. 

In  case  the  Company  shall  desire  to  exercise  such  right  to  redeem 
and  to  pay  off  all,  or,  as  the  case  may  be,  any  part  of  the  bonds  of  a 
particular  series,  in  accordance  with  the  right  reserved  so  to  do,  it  shall 
publish  in  one  daily  newspaper  of  general  circulation  published  in  the 
Borough  of  Manhattan,  City  of  New  York,  in  one  daily  newspaper  of 
general  circulation  published  in  the  City  of  Chicago,  and  in  one 
daily  newspaper  of  general  circulation  published  in  such  other  city, 
if  any,  in  which  the  principal  of  the  bonds  so  to  be  redeemed  is  pay¬ 
able,  at  least  once  a  week  for  eight  successive  calendar  weeks,  the  first 
publication  to  be  at  least  sixty  (60)  days  before  the  date  fixed  for  redemp¬ 
tion,  a  notice  to  the  effect  that  the  Company  has  elected  to  redeem 
and  pay  off  all  the  bonds  of  such  series  or  a  part  thereof,  as  the  case  may 
be,  on  a  date  therein  designated,  specifying  in  case  of  partial  redemp¬ 
tion  the  distinctive  numbers  and  serial  designation  of  the  bonds  to  be 
redeemed,  and  in  every  case  stating  that  on  said  date  there  will  become 
and  be  due  and  payable  upon  each  bond  so  to  be  redeemed,  at  the  office 
of  the  Trustee,  the  principal  thereof  together  with  the  accrued  interest 
to  such  date,  with  such  premium,  if  any,  as  is  specified  in  such  bond,  and 
that  from  and  after  such  date  interest  thereon  will  cease  to  accrue. 
Similar  notice  shall  be  sent  by  the  Company  through  the  mails,  postage 
prepaid,  at  least  sixty  (60)  days  prior  to  such  redemption  date,  to  the 
holders  of  all  registered  bonds  so  to  be  redeemed,  to  the  addresses  that 
shall  appear  upon  the  register  thereof ;  provided,  however,  that  in  respect 
to  any  series,  other  than  6%  Series  due  1941,  provision  may  be  made  by 
the  Board  of  Directors  of  the  Company  at  the  time  of  the  creation  thereof, 
for  the  publication  of  such  notice  in  other  cities,  or  for  more  or  less  than 
once  a  week  for  eight  successive  weeks,  or  in  more  newspapers,  or  for  a 
longer  or  shorter  period  than  sixty  days,  and  compliance  shall  be  made 
with  such  provision  in  case  bonds  of  such  series  shall  be  redeemed.  In  case 
the  Company  shall  have  elected  to  redeem  and  pay  off  less  than  all  the  out¬ 
standing  bonds  of  any  series  it  shall,  in  each  such  instance,  at  least  ten 


See  page  65. 


Method  of 
redemption. 


108 


See  page  149. 


days  before  the  date  upon  which  the  first  publication  of  the  notice  of 
redemption  hereinbefore  mentioned  is  required  to  be  made,  notify  the 
Trustee  in  writing  of  its  such  election  and  of  the  aggregate  principal 
amount  of  bonds  of  such  series  to  be  redeemed,  and  thereupon  the  Trustee 
shall  draw  by  lot,  in  any  manner  by  it  deemed  proper,  from  the  dis 
tinctive  numbers  of  the  bonds  of  such  series  outstanding,  the  bonds  to  be 
redeemed,  and  shall  within  five  days  after  receiving  the  notice  aforesaid 
notify  the  Company  in  writing  of  the  numbers  of  the  bonds  so  drawn. 

On  or  before  the  redemption  date  specified  in  the  notice  above 
provided  for,  the  Company  shall  deposit  with  the  Trustee  an  amount 
of  cash  sufficient  to  effect  the  redemption  of  the  bonds  specified  in  such 
notice,  or,  as  authorized  by  the  provisions  of  Article  X  hereof,  it  may 
direct  the  Trustee  to  apply  to  such  purpose,  to  the  extent  they  are 
available,  any  moneys  theretofore  deposited  with,  or  held  by,  the 
Trustee  under  the  provisions  of  said  Article,  and  from  and  after 
the  date  of  redemption  designated  in  such  notice  (such  deposit  having 
been  made  as  aforesaid)  no  further  interest  shall  accrue  upon  any  of 
the  bonds  so  to  be  redeemed;  and  anything  in  such  bonds  or  in  the 
coupons  or  in  this  Indenture  to  the  contrary  notwithstanding,  any  cou¬ 
pons  for  interest  pertaining  to  any  such  bonds  and  maturing  after  such 
date  shall  become  and  be  null  and  void. 

If  any  serial  number  shall  be  drawn  by  the  Trustee  at  any  aforesaid 
drawing  which  is  endorsed  upon  any  registered  bond  without  coupons 
of  a  denomination  greater  than  $1,000,  such  registered  bond  shall  be 
presented,  properly  endorsed,  for  transfer  at  or  after  the  time  fixed  for 
the  payment  of  said  bonds  so  drawn  for  redemption  and  such  payment 
shall  be  made  upon  surrender  of  said  bond  so  endorsed ;  and,  at  the 
option  of  the  holder,  coupon  bonds  or  registered  bonds  without  coupons 
(but  only  of  authorized  denominations)  for  the  unredeemed  balance,  if 
any,  of  the  principal  sum  of  the  registered  bonds  Avithout  coupons  so 
presented  and  surrendered,  shall  be  executed  by  the  Company  and  authen¬ 
ticated  and  delivered  by  the  Trustee,  without  charge  therefor.  After  the 
date  fixed  for  such  redemption,  interest  shall  be  payable  only  on  the  por- 


109 


tion  of  such  registered  bond  not  so  called  for  redemption  and  only  such 
portion  shall  continue  to  be  entitled  to  the  benefit  of  the  lien  of  this  In¬ 
denture,  and  the  Company  shall  be  under  no  further  liability  with  respect 
to  the  portion  thereof  so  called  for  redemption. 

Section  2.  All  bonds  redeemed  and  paid  under  this  Article  III, 
together  with  the  unmatured  coupons  thereto  appertaining,  shall  forth¬ 
with  be  cancelled  by  the  Trustee  and  the  Trustee  shall  note  on  its  records 
the  fact  of  such  cancellation,  and  shall  deliver  the  bonds  and  coupons 
so  cancelled  to  the  Company  upon  its  request  in  writing  signed  by  its 
President  or  a  Vice-President,  and  no  bonds  shall  be  issued  in  respect  of 
or  in  lieu  of  the  bonds  so  cancelled. 

Section  3.  In  case  any  question  shall  arise  as  to  whether  any  notice 
of  redemption  referred  to  in  Section  1  of  this  Article  III  shall  have 
been  sufficiently  given,  such  question  shall  be  decided  by  the  Trustee, 
and  the  decision  of  the  Trustee  shall  be  final  and  binding  upon  all 
parties  in  interest. 


ARTICLE  IV. 

Sinking  Fund. 

Section  1.  The  term  “sinking  fund  dates’’,  as  hereinafter  in  this 
Article  used,  shall  mean  the  first  days  of  June  and  December  in  each 
year  commencing  with  June  1,  1922.  The  term  “sinking  fund  price”  as 
hereinafter  in  this  Article  used,  shall  mean  the  maximum  price  prevail¬ 
ing  at  which  bonds  of  each  series  issued  hereunder  may  be  purchased 
with  sinking  fund  moneys,  as  fixed  and  determined  by  the  resolution  of 
the  Board  of  Directors  of  the  Company  authorizing  each  such  series  as 
provided  in  Section  5  of  Article  I  hereof,  or  with  respect  to  the  6  °/6 
Series  due  1941  as  hereinafter  in  this  Section  provided,  it  being  under¬ 
stood  that  bonds  of  some  of  the  series  issued  hereunder,  may  in  the  dis¬ 
cretion  of  the  Company  not  be  entitled  to  the  benefit  of  purchase  with 
the  sinking  fund  moneys  as  provided  in  this  Article  IV.  Until  the  bonds 


Redeemed 
bonds  to  be 
cancelled  by 
Trustee. 


Trustee’s 
decision  as  to 
notice  of  re¬ 
demption  to 
be  final. 

See  page  106. 


Definition  of 
sinking  fund 
dates  and 
sinking  fund 
price. 


See  page  67. 


110 


See  page  65. 


Company 
covenants  to 
maintain 
sinking  fund 
and  make 
payments  to 
Trustee. 


See  page  113. 


Certain  bonds 
excluded  in 
calculating 
amount  out¬ 
standing. 

See  page  106. 


Trustee  may 
rely  on  cer¬ 
tificate  of 
Treasurer  or 
Assistant 
Treasurer  of 
the  Company. 


of  6%  Series  due  1941  become  redeemable,  the  sinking  fund  price  of  the 
bonds  of  said  series  is  110%  of  the  principal  amount  thereof  and  accrued 
interest,  and  thereafter  is  the  prevailing  redemption  price  of  said  series 
as  specified  in  Section  4  of  Article  I  hereof,  and  the  bonds  of  said  series 
are  entitled  to  the  benefit  of  purchase  with  sinking  fund  moneys. 

Section  2.  The  Company  covenants  and  agrees  to  create  and,  so 
long  as  any  of  the  bonds  of  the  6%  Series  due  1941  are  outstanding, 
to  maintain  a  sinking  fund  and  to  pay  to  the  Trustee  for  the  account  of 
the  sinking  fund  on  or  before  June  1,  1922,  and  on  or  before  all  other 
sinking  fund  dates,  in  gold  coin  of  the  United  States  of  America  of  the 
standard  of  weight  and  fineness  as  it  existed  on  December  1st,  1921,  a 
sum  (except  as  provided  in  Section  4  of  this  Article  IV)  equal  to  two  and 
one-half  per  cent.  (2U>%)  of  the  aggregate  principal  amount  of  all  bonds 
of  all  series  outstanding  hereunder  sixty  days  prior  to  such  sinking  fund 
dates,  respectively,  whether  or  not  all  of  such  bonds  are  entitled  to  the 
benefit  of  purchase  with  sinking  fund  moneys. 

In  calculating  the  amount  of  bonds  of  all  series  outstanding  here¬ 
under  there  shall  be  excluded : 

(1)  All  bonds  for  the  redemption  of  which  money  is  held 
by  the  Trustee  as  in  Article  III  hereof  provided; 

(2)  All  bonds,  if  any,  held  alive  by  the  Trustee  in  any  sinking 
fund  provided  for  in  any  indenture  supplemental  hereto  in  respect 
of  any  series  of  bonds  issued  hereunder  which  is  in  addition  to 
the  sinking  fund  provided  by  this  Article  IV ;  and 

(3)  All  bonds  issued  hereunder  which  have  been  authenti¬ 
cated  and  delivered  by  the  Trustee,  but  which  shall  not  have  been 
sold,  pledged  or  otherwise  disposed  of  by  the  Company  and  are 
held  by  it  free  from  any  right  or  interest  of  any  person,  firm  or 
corporation. 

The  Trustee  shall  be  fully  protected  in  any  action  taken  by  it  under 
this  Article  IV  in  reliance  upon  a  certificate  of  the  Treasurer  or  an 


Ill 


Assistant  Treasurer  of  the  Company  as  to  the  bonds  authenticated  and 
delivered  to  the  Company  and  not  sold,  pledged  or  otherwise  disposed 
of  and  held  by  the  Company  free  from  any  right  or  interest  of  any  person, 
firm  or  corporation. 

There  shall  be  added  to  such  sinking  fund  all  interest  allowed  by 
the  Trustee  on  such  sinking  fund. 

Section  3.  It  shall  be  the  duty  of  the  Trustee  to  apply  the  amounts 
paid  to  the  sinking  fund  to  the  purchase  of  bonds  outstanding 
hereunder  of  all  series  which  are  entitled  to  the  benefit  of 
purchase  with  sinking  fund  moneys  as  hereinafter  provided.  The 
amount  of  each  instalment  of  the  sinking  fund  applicable  to 
the  purchase  of  each  series  of  bonds  entitled  to  the  benefits  thereof 
shall  be  in  the  ratio  that  the  aggregate  principal  amount  of  each  such 
series  of  bonds  at  the  time  outstanding  hereunder  bears  to  the  aggregate 
principal  amount  of  all  bonds  of  all  series  entitled  to  the  benefit  of 
purchase  with  sinking  fund  moneys  at  the  time  outstanding  hereunder; 
provided,  however,  that  nothing  contained  in  this  Article  IV  shall  affect 
or  limit  the  right  of  the  Company  to  prescribe  the  terms  and  conditions 
of  the  application  of  the  moneys  in  any  sinking,  amortization, 
improvement  or  analogous  fund  hereafter  created  in  excess  of  two  and 
one-half  per  cent.  (21/2%.)  of  the  aggregate  principal  amount  of  the  bonds 
at  any  time  outstanding  hereunder,  and  to  provide  that  any  such  fund 
so  created,  to  the  extent  that  it  exceeds  said  two  and  one-half  per  cent. 
(2i/o%)  may  be  applied  solely  to  the  benefit  of  any  one  or  more  or  of 
all  the  series  of  bonds  issued  hereunder,  all  as  may  be  determined  and 
fixed  by  the  Company  in  the  resolution  creating  any  series  of  bonds,  as 
provided  for  in  Section  5  of  Article  I  of  this  Indenture. 

Before  making  any  such  purchase,  the  Trustee  in  the  name  of  the 
Company  shall,  by  notice  published  once  in  each  week  for  four  consecu¬ 
tive  weeks  immediately  preceding  each  sinking  fund  date  (the  first 
publication  to  be  not  more  than  sixty  days  prior  thereto),  in  three  daily 
newspapers  of  general  circulation,  one  published  in  each  of  the  Cities  of 
New  York,  New  York,  Chicago,  Illinois,  and  Columbus,  Ohio,  advertise 


Interest 
added  to  sink 
ing  fund. 


Trustee  shall 
apply  sinking 
fund  to  pur¬ 
chase  of  out¬ 
standing 
bonds. 


Company  may 
prescribe  con¬ 
ditions  of 
application 
of  moneys  in 
sinking  fund 
in  excess  of 
2V3%of 
amount  of 
outstanding 
bonds. 


See  page  67. 

Trustee  shall 
advertise  for 
proposals  to 
sell  bonds  for 
the  sinking 
fund. 


112 


Acceptance 
of  bids. 


Bonds  held  by 
the  Company 
and  excluded 
bonds  not  to 
be  purchased. 


for  sealed  written  proposals  to  sell  to  tlie  Trustee  bonds  then  outstanding 
hereunder  of  all  series  which  are  entitled  to  the  benefit  of  purchase  with 
sinking  fund  moneys,  at  prices  not  exceeding  the  sinking  fund  price  of 
the  bonds  of  each  such  series.  Such  advertisement  shall  state  the 
amount  of  moneys  which  will  be  available  for  the  purchase  of  bonds  of  each 
series  specified  therein  and  shall  specify  the  last  date  on  which  such  sealed 
written  proposals  will  be  received  by  the  Trustee,  which  date  shall  not 
be  later  than  twenty  days  prior  to  each  sinking  fund  date.  All  such  sealed 
written  proposals  shall  be  deemed  to  be  offers  to  sell  all  or  any  part 
of  the  bonds'  so  offered,  whether  so  expressed  or  not.  The  Trustee,  to 
the  extent  of  the  funds  then  in  its  hands,  applicable  to  the  purchase  of 
bonds  of  each  series  so  entitled  to  purchase,  shall  purchase  the  bonds  of 
such  series  so  offered  at  the  lowest  price  asked  therefor  not  exceeding 
the  sinking  fund  price  thereof,  and  notice  of  acceptance  shall  be  given 
by  the  Trustee  to  the  owner  or  owners  of  the  bonds  whose  proposals  are 
accepted;  which  notice  shall  state  the  time  for  the  delivery  of  said  bonds 
for  purchase,  which  shall  be  such  sinking  fund  date,  and  also  that  none 
of  such  bonds  will  bear  interest  after  such  sinking  fund  date.  Bonds  held 
by  the  Company  and  bonds  excluded  in  calculating  the  amount  of  bonds 
outstanding  hereunder,  as  aforesaid,  shall  not  be  purchased  with  sinking 
fund  moneys.  Should  there  be  two  or  more  proposals  at  the  same  price 
aggregating  more  than  the  amount  which  the  Trustee  has  applicable  to 
purchase,  after  having  accepted  all  proposals  at  a  lower  price  or  prices, 
such  proposals  shall,  if  possible,  under  their  terms,  be  accepted  pro  rata , 
provided,  however,  that  the  Trustee  shall  have  the  right  to  reject  any  or 
all  proposals,  in  whole  or  in  part,  if  it  has  the  opportunity,  at  the  time  of 
opening  said  proposals,  to  purchase  the  requisite  amount  of  said  bonds, 
or  any  part  thereof,  other  than  those  excluded  as  aforesaid,  at  prices 
more  advantageous  than  the  prices  offered  by  said  proposals  not  exceed¬ 
ing  the  sinking  fund  price  thereof. 

If  in  response  to  such  advertisement  no  proposals  to  sell  bonds  at  or 
below  the  respective  sinking  fund  prices,  shall  be  received  by  the  Trustee 
on  or  before  the  last  day  when  sealed  written  proposals  may  be  received 


113 


bv  the  Trustee,  or  if  such  proposal  or  proposals  shall  not  offer  an  amount 
of  bonds  sufficient  to  exhaust  the  funds  then  in  its  hands  applicable  to 
the  purchase  of  any  series,  and  if  the  Trustee  at  such  times  shall  be 
unable  after  reasonable  effort  otherwise  to  purchase  the  requisite  amount, 
of  bonds  of  such  series  at  or  below  the  sinking  fund  price  thereof, 
within  sixty  days  after  receipt  by  it  of  any  such  sinking  fund  moneys,  the 
sinking  fund  moneys  which  are  not  applied  to  the  purchase  of  bonds  shall 
be  applied  by  the  Trustee  to  call  and  redeem  bonds  of  the  appropriate 
series  as  promptly  as  it  may  conveniently  do  so,  at  the  redemption  price 
prevailing  with  respect  to  such  series,  or  if  bonds  of  such  series  are  not 
at  the  time  redeemable,  shall  be  held  by  the  Trustee  until  the  bonds  of 
such  series  can  be  purchased  and/or  called  and  redeemed  as  aforesaid. 

If  the  trust  estate  shall  be  sold,  either  under  the  power  of  sale  herein 
provided,  or  under  decree  of  court  in  a  suit  for  the  foreclosure  of  this 
Indenture,  then  all  moneys  in  the  sinking  fund  shall  be  added  to  and 
dealt  with  as  if  they  were  part  of  the  proceeds  of  such  sale. 

Section  4.  When  the  Company  shall  have  filed  with  the  Trustee  the 
certificate  or  certificates  of  an  engineer  or  engineers  or  other  experts,  and 
the  opinion  or  opinions  of  counsel,  selected  or  approved  by  the  Trustee, 
described  and  provided  for  in  subdivision  (e)  of  Section  1  of  Article  II 
hereof,  and  setting  forth  the  matters  therein  specified,  the  amount  there¬ 
after  required  to  be  paid  semi-annually  to  the  sinking  fund,  as  aforesaid, 
shall  be  reduced  to  one  per  cent.  (1%)  of  the  aggregate  principal  amount 
of  all  bonds  of  all  series  outstanding  hereunder  sixty  days  prior  to  such 
sinking  fund  dates,  respectively,  and  wherever  the  words  and/or  figures 
“two  and  one-half  per  cent.”  and  “(2^%)”  appear  in  this  Article  IV 
they  shall  from  the  date  of  filing  of  such  certificates  or  opinions  with  the 
Trustee,  read  “one  per  cent.”  and  “(1%)”  respectively. 

Section  5.  All  bonds  together  with  the  unmatured  coupons  thereto 
appertaining  acquired  by  the  Trustee  under  the  provisions  of  this  Article 
IV  shall  forthwith  be  cancelled  and  the  Trustee  shall  note  on  its  records 
the  fact  of  such  cancellation,  and  shall  deliver  the  bonds  and  coupons 


Trustee  to 
redeem  bonds 
when  unable 
to  purchase 
bonds. 


Sinking  fund 
to  be  dealt 
with  as  part 
of  proceeds  if 
trust  estate 
is  sold. 


See  page  79. 


Payments  to 
sinking  fund 
reduced  to  1% 
of  outstand¬ 
ing  bonds 
when  certain 
certificates 
and  opinions 
are  filed. 


Bonds 
acquired  by 
Trustee  with 
sinking  fund 
moneys  must 
be  cancelled 
and  delivered 
to  Company. 


114 


Directors  may 
determine 
whether  bonds 
other  than 
6%  Series  due 
1941,  are 
entitled  to 
benefit  of 
sinking  fund. 


See  page  109. 


Directors  may 
provide  differ¬ 
ent  sinking 
fund  price  for 
bonds  other 
than  6% 

Series  due 
1941. 


See  page  67. 

Directors 
may  provide 
additional 
sinking  fund. 


To  pay 
interest  and 
principal. 


so  cancelled  to  the  Company  npon  its  request  in  writing  signed  by  its 
President  or  a  Vice-President  and  no  bonds  shall  be  issued  in  respect  of 
or  in  lieu  of  the  bonds  so  cancelled.  No  bond  shall  bear  interest  after 
the  sinking  fund  date  upon  which  it  becomes  deliverable  for  purchase  and 
all  unmatured  coupons  appertaining  thereto  shall  be  and  become  null 
and  void. 

V 

Section  6.  The  sinking  fund  provided  for  by  this  Article  IV  shall 
be  for  the  benefit  of  all  bonds  from  time  to  time  outstanding  under  this 
Indenture  of  any  series,  including  6%  Series  due  1941,  which,  by  the 
terms  of  the  resolution  of  the  Board  of  Directors  of  the  Company  author¬ 
izing  the  same,  shall  entitle  the  holders  of  said  bonds  to  the  benefit  of 
purchase  thereof  with  the  sinking  fund  moneys  mentioned  in  this 
Article  IV.  Except  as  provided  above  in  Section  2  of  tliisi  Article  IV, 
bonds  of  any  series,  may  at  the  time  of  the  creation  thereof,  be  excluded 
as  outstanding  bonds  for  the  purpose  of  calculation  of  any  sinking  fund 
payments.  Any  series  of  bonds  authenticated  and  delivered  hereunder 
may  have  a  sinking  fund  price  for  the  purchase  thereof,  other  than  and 
different  from  the  sinking  fund  price  for  the  purchase  of  the  bonds  of 
the  6%  Series  due  1941,  and  subject  to  the  provisions  with  respect  to 
6 °/o  Series  due  1941,  the  Company  may,  as  provided  in  Section  5  of 
Article  I  hereof,  make  provision  with  respect  to  any  series,  for  the  estab¬ 
lishment  and  application  of  any  other  or  additional  sinking,  amortization, 
improvement  or  analogous  fund,  or  may  continue  the  provisions  with 
respect  to  the  6%  Series  due  1941  so  that  they  shall  also  apply  during 
the  life  of  sucli  other  series.  If  the  Company  shall  make  any  such  pro¬ 
vision  it  shall,  if  requested  by  the  Trustee,  execute  an  indenture  supple¬ 
mental  hereto,  embodying  the  terms  and  conditions  of  such  provision  for 
the  establishment  and  application  of  such  other  and  additional  fund. 

ARTICLE  V. 

Covenants. 

Section  1.  The  Company  covenants  and  agrees  that  it  will  promptly 
pay  the  interest  on  and  principal  of  the  bonds  hereby  secured  at  the  dates 


115 


and  places  and  in  the  manner  specified  in  the  bonds  and  the  coupons 
thereto  annexed,  according  to  the  true  intent  and  meaning  thereof. 
The  principal  of  each  bond  shall  be  payable  only  upon  the  presentation 
and  surrender  of  the  bond,  which  shall  be  cancelled  forthwith  upon  the 
payment  thereof.  The  interest  on  coupon  bonds  shall  be  payable  only  on 
the  presentation  and  surrender  of  the  several  coupons  for  such  interest 
as  they  respectively  mature  and  such  coupons  shall  be  cancelled  forth¬ 
with  upon  the  payment  thereof. 

Section  2.  The  Company  covenants  and  agrees  that  at  all  times, 
until  the  payment  of  the  principal  and  interest  of  the  bonds  hereby 
secured,  it  will  maintain  an  office  or  agency  in  the  Borough  of  Manhattan, 
City  of  New  York,  where  notices,  requests  and  demands  in  respect  of 
the  bonds  and  coupons  or  under  this  Indenture  may  be  served,  and 
where  the  principal  and  interest  of  the  bonds  issued  hereunder  shall 
be  payable,  and  will,  in  writing,  notify  the  Trustee  of  such  office  or 
agency.  In  default  of  any  such  office  or  agency,  or  such  notification 
thereof,  such  notices,  requests  and  demands  may  be  served,  and  such 
principal  and  interest  shall  be  payable,  at  the  office  of  the  Trustee  in 
the  City  of  Chicago,  Illinois. 

Section  3.  The  Company  covenants  and  agrees  that  it  is  lawfully 
seized  and  possessed  of  the  trust  estate,  free  and  clear  of  liens  or  incum¬ 
brances,  except  as  aforesaid,  and  excepting  current  taxes;  that  it  has 
good  right  and  lawful  authority  to  sell,  convey,  mortgage  and  pledge 
the  trust  estate;  and  that  it  will  warrant  and  defend  unto  the  Trustee,  its 
successors  and  assigns,  for  the  benefit  of  the  holders  for  the  time  being  of 
the  bonds  issued  hereunder,  the  trust  estate  and  the  lien  and  interest  of 
the  Trustee  thereon  and  therein  under  this  Indenture,  against  all  claims 
and  demands  of  any  persons  whomsoever;  provided,  however,  that  noth¬ 
ing  in  this  Indenture  contained  shall  prevent  the  Company  from  hereafter 
acquiring  any  property  subject  to  an  existing  mortgage  or  other  incum¬ 
brance  thereon  and  holding  the  same  subject  to  such  mortgage  or  other 
incumbrance. 


To  maintain 
office  or 
agency  in 
New  York. 


Seisin,  pos¬ 
session,  free¬ 
dom  from 
liens,  etc. 


116 


Further 

assurances. 


To  record  and 
file  Indenture 
and  supple¬ 
mental  in¬ 
dentures. 


See  page  149. 


To  maintain 

corporate 

existence, 

preserve 

franchises, 

comply  with 

laws. 


Section  4.  The  Company  covenants  and  agrees  that  it  will  hereafter, 
from  time  to  time,  whenever  reasonably  requested  by  the  Trustee,  make, 
do,  execute,  acknowledge  and  deliver,  or  cause  to  be  made,  done,  executed, 
acknowledged  and  delivered,  any  and  all  such  further  and  other  acts, 
deeds,  conveyances,  transfers  and  assurances  as  may  be  necessary  or 
proper  for  the  better  assuring  and  confirming  unto  the  Trustee  all  or  any 
part  of  the  trust  estate,  whether  now  or  hereafter  owned  or  acquired 
by  the  Company,  or  to  facilitate  the  execution  of  this  trust  or  to  secure 
the  rights  and  remedies  of  the  Trustee  and  of  the  holders  of  the  bonds 
hereby  secured. 

Section  5.  The  Company  covenants  and  agrees  that  it  will  cause  this 
Indenture  and  every  additional  instrument  which  shall  be  executed  pur¬ 
suant  to  the  provisions  hereof,  to  be  recorded,  registered  and/or  filed  and 
to  be  re-recorded,  re-registered  and/or  re-filed  both  as  a  mortgage  of  real 
estate  and  of  personal  property,  in  such  manner,  in  such  places  and  at 
such  times,  as  may  be  required  by  law  and  as  may  be  necessary  to  pre¬ 
serve  and  protect  the  security  of  the  bonds,  the  lien  hereof  on  the 
trust  estate,  and  the  rights  and  remedies  of  the  Trustee  and  of  the  bond¬ 
holders;  and  that  it  will  furnish  satisfactory  evidence  thereof  to  the 
Trustee. 

Section  6.  The  Company  covenants  and  agrees  that,  except  as  in 
Article  X  hereof  otherwise  permitted,  at  its  own  cost  and  expense,  it  will 
do  or  will  cause  to  be  done  all  things  necessary  to  preserve,  extend  and 
renew  its  corporate  existence  and  right  to  carry  on  business,  and  to 
preserve  and  to  keep  in  full  force  and  effect,  all  its  rights,  franchises 
and  privileges,  and  shall  and  will  diligently  preserve  all  rights,  fran¬ 
chises  and  privileges  to  it  granted  and  on  it  conferred  by  law  or  other¬ 
wise,  and  will  take  all  practicable  means  to  procure  extensions  or 
renewals  of  all  franchises  under  which  its  electric  light  and  power  prop¬ 
erties  and/or  its  street  railway  properties  are  operated,  which  may  expire 
prior  to  the  date  of  the  maturity  of  any  of  the  bonds  issued  hereunder, 


117 


and  will  comply  with  the  laws  of  the  State  of  Ohio  and  of  the  United 
States  of  America,  and  with  all  lawful  orders,  rules  and  regulations  of 
any  public  utilities  commission  or  other  governmental  body  or  authority 
having  jurisdiction  in  the  premises,  provided  however,  that  nothing  herein 
contained  shall  require  the  Company  to  comply  with  any  such  laws, 
orders,  rules  or  regulations,  so  long  as  the  validity  thereof  shall  be  by  it 
in  good  faith  contested,  unless  thereby,  in  the  opinion  of  the  Trustee  the 
trust  estate  or  some  part  thereof  will  be  lost,  forfeited  or  materially  en¬ 
dangered. 

Section  7.  The  Company  covenants  and  agrees  that  it  will  punc¬ 
tually  and  promptly  pa}^  the  principal  of  and  interest  on  each  and 
every  underlying  security  not  at  the  time  deposited  hereunder,  as  and 
when  the  same  shall  become  due  and  payable  as  in  said  security  and 
the  mortgage  or  other  instrument  securing  the  same  expressed  and  will 
not  extend  the  time  of  payment  of  any  of  said  principal  and  interest; 
that  it  will  punctually  and  promptly  keep,  observe  and  perform  each  and 
every  covenant,  agreement  and  condition  contained  in  each  and  every  such 
mortgage  or  other  instrument  and  in  the  underlying  securities  thereby 
secured  and  not  at  the  time  deposited  hereunder,  on  the  part  of  the 
mortgagor  to  be  kept  and  performed;  and  that  no  default  shall  be  made 
or  shall  occur  upon  or  in  respect  to  any  underlying  security  not  at  the 
time  deposited  hereunder  or  under  or  in  respect  to  the  mortgage  or 
other  instrument  securing  the  same,  whereby  the  right  might  arise  to 
enforce  by  foreclosure  or  otherwise  the  mortgage  or  other  instrument 
securing  the  same. 

Section  8.  The  Company  covenants  and  agrees  that  it  will  not 
create  or  suffer  to  be  created  or  to  accrue,  any  lien  or  charge  of  equal 
rank  with  or  having  priority  to  or  preference  over  the  lien  of  this  Inden¬ 
ture  upon  the  trust  estate  or  any  part  thereof,  or  upon  the  income  and 
profits  thereof,  except  any  mortgage  or  other  lien  on  any  property  here¬ 
after  acquired  by  the  Company  which  may  exist  at  the  date  of  the 


Covenants 
with  respect 
to  underlying 
securities  and 
mortgages. 


To  preserve 
lien  and  pre¬ 
vent  equal  or 
prior  liens 
and  charges. 


118 


To  pay  taxes. 


To  keep  prop 
erty  insured. 


acquisition  of  such  property  by  the  Company;  and  that  it  will  not  do 
or  omit  to  do,  or  suffer  to  be  done  or  omitted  to  be  done,  any  matter  or 
thing  whatsoever  whereby  the  lien  of  this  Indenture  or  the  priority 
of  such  lien  or  the  indebtedness  hereby  secured,  might  or  could  be  lost 
or  impaired;  and  that,  within  three  months  of  the  accrual  thereof,  it 
will  pay  or  cause  to  be  paid,  or  will  make  adequate  provision  for  the 
satisfaction  and  discharge  of,  all  lawful  claims  and  demands  for  labor, 
materials,  supplies  or  other  objects  which,  if  unpaid,  might  by  law  be 
given  precedence  to  or  an  equality  with  this  Indenture  as  a  lien  or 
charge  upon  the  trust  estate  or  any  part  thereof  or  the  income  and 
profits  thereof;  provided,  however,  that  nothing  in  this  Indenture  shall 
require  the  Company  to  pay,  discharge  or  make  provision  for  any  such 
lien,  charge,  claim  or  demand  so  long  as  the  validity  thereof  shall  be 
by  it  in  good  faith  contested,  unless  thereby,  in  the  opinion  of  the 
Trustee,  the  trust  estate  or  some  part  thereof  will  be  lost,  forfeited  or 
materially  endangered. 

Section  9.  That  it  will  pay  all  taxes  and  assessments  lawfully 
levied  or  assessed  upon  the  trust  estate,  or  upon  any  part  thereof  or 
upon  any  income  therefrom,  or  upon  the  interest  of  the  Trustee  therein, 
when  the  same  shall  become  due,  and  will  duly  observe  and  conform  to 
all  covenants,  terms  and  conditions  upon  or  under  which  any  of  the 
trust  estate  is  held;  provided,  however,  that  nothing  in  this  Indenture 
shall  require  the  Company  to  pay,  discharge  or  make  provision  for  any 
such  tax  or  assessment,  so  long  as  the  validity  thereof  shall  be  by  it  in 
good  faith  contested,  unless  thereby,  in  the  opinion  of  the  Trustee,  the 
trust  estate  or  some  part  thereof  will  be  lost,  forfeited  or  materially 
endangered. 

Section  10.  The  Company  covenants  and  agrees  that  it  will  at  all 
times  insure  and  keep  insured  against  destruction  or  damage  by  fire, 
and/or  boiler  explosion,  for  the  reasonable  insurable  value  thereof,  in 
some  solvent  insurance  company  or  companies,  that  part  of  the  trust 


119 


estate  which  is  of  an  insurable  nature  and  of  a  character  customarily 
so  insured  by  other  companies  operating  like  properties.  Unless  other¬ 
wise  required  by  the  provisions  of  any  mortgage  or  other  instrument 
constituting  a  lien  prior  to  this  Indenture  upon  any  part  of  the 
trust  estate,  all  policies  for  such  insurance  shall  be  so  drawn  as  to  make 
any  losses  thereunder  payable  to  the  Trustee  as  its  interest  may  appear, 
and,  if  requested  by  the  Trustee,  the  same  shall  be  deposited  with  the 
Trustee.  The  proceeds  of  any  insurance  which  shall  be  received  by  the 
Trustee  shall  be  paid  or  applied  by  the  Trustee  as  provided  in  Section  5 
of  Article  X. 

In  case  of  any  loss  covered  by  any  policy  of  insurance,  any  appraise¬ 
ment  or  adjustment  of  such  loss  and  settlement  and  payment  of  indemnity 
therefor  which  shall  be  approved  in  writing  by  some  person  appointed 
by  the  Company  and  approved  by  the  Trustee,  may  be  consented  to  and 
accepted  by  the  Trustee.  The  Trustee  shall  in  no  way  be  liable  or 
responsible  for  the  collection  of  any  insurance  in  case  of  any  loss  nor 
for  consenting  to  or  accepting  any  such  appraisement,  adjustment,  set¬ 
tlement  or  payment  of  indemnity. 

Section  11.  The  Company  covenants  and  agrees  that  it  will,  at  any 
and  all  times,  upon  the  written  request  of  the  Trustee,  (a)  permit  the 
Trustee  by  its  agents,  engineers,  accountants  and  attorneys  to  examine 
and  inspect  the  plants,  property,  books  of  account,  records,  reports  and 
other  papers  of  the  Company,  and  to  take  copies  and  extracts  therefrom, 
and  will  afford  and  procure  a  reasonable  opportunity  to  make  any  such 
examination  and  inspection;  (b)  furnish  to  the  Trustee,  not  oftener 
than  once  in  each  calendar  year,  a  statement  of  the  earnings  and 
expenses  of  the  Company,  with  the  principal  divisions  thereof,  com- 
piled  in  accordance  with  the  system  of  accounting  in  use  by  the 
Company,  for  and  during  a  period  of  twelve  consecutive  calendar  months 
within  the  fifteen  calendar  months  next  preceding  such  request,  and  a 
detailed  and  true  balance  sheet  showing  accurately  the  financial  con¬ 
dition  of  the  company  and  of  any  subsidiary  corporation,  as  of  the  close 


See  page  154. 


To  permit 
examination 
by  Trustee, 
to  furnish 
reports  and 
other  in¬ 
formation. 


120 


of  such  twelve  months  period;  and  (c)  furnish  to  the  Trustee  any  and 
all  such  other  information  which  the  Trustee  may  request,  so  that  it 
may  keep  itself  informed  as  to  the  performance  and  observance  by  the 
Company  of  the  terms,  covenants  and  agreements  in  this  Indenture  con¬ 
tained  to  be  kept,  observed  and  performed  by  the  Company;  provided 
however,  that  the  Trustee  shall  be  under  no  duty  to  require  the  Com¬ 
pany  to  furnish  any  such  balance  sheet,  statement  or  information,  unless 
requested  so  to  do  by  the  holders  of  ten  per  cent.  (10%)  in  principal 
amount  of  the  bonds  hereby  secured  then  outstanding,  and  that  it  shall 
not  make  any  such  examination  unless  requested  so  to  do  by  the  holders 
;  of  twenty-five  per  cent.  (25%)  in  principal  amount  of  the  bonds  hereby 
secured  then  outstanding. 


Trustee  may 
make  pay¬ 
ments  if 
Company 
defaults. 


Section  12.  Upon  default  of  the  Company  so  to  do,  the  Trustee  may, 
in  its  discretion,  and  if  requested  in  writing  by  the  holders  of  twenty- 
five  per  cent.  (25%)  in  principal  amount  of  the  bonds  hereby  secured 
then  outstanding  and  provided  with  the  amount  of  cash  necessary  there¬ 
for,  shall,  make  any  payment  which  the  Company  by  any  of  the  provi¬ 
sions  of  this  Article  agrees  to  make,  and  the  Company  covenants  and 
agrees  that  it  will  forthwith  repay  to  the  Trustee  all  moneys  which  the 
Trustee  shall  so  pay,  and  will  pay  interest  thereon  from  the  date  of 
such  payment  by  the  Trustee  until  the  repayment  thereof,  at  the  rate  of 
six  per  cent.  (6%)  per  annum,  and  if  any  moneys  so  paid  by  the  Trustee 
shall  have  been  furnished  to  the  Trustee  by  any  of  the  bondholders, 
the  Trustee  shall,  out  of  any  amount  repaid  to  it  by  the  Company  or 
recovered  out  of  the  trust  estate  on  account  of  such  advance  or  pay¬ 
ment,  make  ratable  payment  to  the  bondholders  who  shall  have  pro¬ 
vided  such  moneys,  or  upon  their  order;  but  no  such  payment  shall  be 
deemed  to  relieve  the  Company  from  any  default  hereunder. 


Not  to  issue 
bonds  con¬ 
trary  to 
provisions  of 
this  Indenture 
or  law. 


Section  13.  The  Company  covenants  and  agrees  that  it  will  not 
issue,  negotiate,  sell  or  dispose  of  any  of  the  bonds  hereby  secured  in  any 
manner  contrary  to  the  provisions  of  this  Indenture  and  of  any  law 


121 


applicable  thereto.  Neither  the  Trustee  nor  any  purchaser  or  holder  of 
any  bonds  shall  be  under  any  obligation  to  see  to  the  application  thereof 
or  of  the  proceeds  thereof. 

Section  14.  The  Company  covenants  and  agrees  that  in  case  it  shall 
hereafter  create  any  mortgage  upon  its  property  or  any  part  thereof,  such 
mortgage  shall  be.  and  shall  be  therein  expressed  to  be,  subject  to  the 
prior  lien  of  this  Indenture  for  the  security  of  all  bonds  hereby  secured 
then  outstanding  and  of  all  bonds  which  may  thereafter  be  authenticated 
and  delivered  hereunder,  as  in  this  Indenture  provided  and  permitted. 

Section  15.  The  Company  covenants  and  agrees  that  it  will  duly 
and  punctually  keep,  observe  and  perform  each  and  every  term,  covenant 
and  condition  on  its  part  to  be  kept,  observed  and  performed  contained  in 
any  and  every  indenture  supplemental  hereto  which  may  be  executed 
and  delivered  by  the  Company  to  the  Trustee  as  provided  or  permitted  by 
this  Indenture. 

Section  16.  (A)  The  Company  covenants  and  agrees  that  it  will 
at  all  times  maintain,  preserve  and  keep  its  plants,  systems,  buildings, 
fixtures,  machinery  and  appliances  and  every  part  thereof  with  the 
appurtenances  and  every  part  and  parcel  thereof,  in  thorough  repair, 
working  order  and  condition,  and  will,  from  time  to  time,  make  all  need¬ 
ful  and  proper  expenditures  for  maintenance,  repairs,  renewals  and 
replacements,  so  that  at  all  times  the  value  of  the  security  for  the  bonds 
issued  hereunder  and  the  efficiency  of  the  plants  and  properties  of  the 
Company  shall  be  fully  preserved  and  maintained;  that  it  will  appro¬ 
priate  and/or  expend  (including  the  amount  hereinafter  required  to  be 
expended  for  current  maintenance)  in  each  year  out  of  gross  operating 
revenues  for  such  year  for  maintenance  and/or  depreciation  of  all  of  its 
properties,  a  sum  at  least  equal  to  the  aggregate  of  twelve  and  one-half 
per  cent.  (12^,%)  of  the  gross  operating  revenues  for  such  year  of  its 
electric  light  and  power  properties  and  eighteen  per  cent.  (18%')  of 
the  gross  operating  revenues  for  such  year  of  its  street  railway  proper- 


Subsequent 
mortgages  to 
be  expressly 
subject  to 
prior  lien  of 
this  Indenture. 


To  perform 
covenants  in 
supplemental 
indentures. 


To  maintain 
property  ; 
minimum  per¬ 
centages  of 
gross  operat¬ 
ing  revenues 
to  be  ex¬ 
pended  for 
maintenance 
and/or  depre¬ 
ciation. 


122 


See  page  123. 


See  page  93. 

Percentages  t 
be  readjusted 
at  5-year 
intervals. 


ties,  respectively;  and  that  it  will  actually  expend  in  each  year  out  of 
gross  operating  revenues  for  such  year  for  current  maintenance  of  its 
electric  light  and  power  properties  and/or  its  street  railway  properties, 
a  sum  at  least  equal  to  the  aggregate  of  seven  per  cent.  (7%)  of  the  gross 
operating  revenues  for  such  year  of  its  electric  light  and  power  proper¬ 
ties  and  seven  per  cent.  (7%)  of  the  gross  operating  revenues  for  such 
year  of  its  street  railway  properties,  respectively,  or,  in  case  it  has  not 
made  such  expenditure,  that  it  will  make  the  payment  of  cash  required 
by  sub-division  (B)  hereof  or,  in  lieu  thereof,  will  file  the  certificate 
required  by  sub-division  (C)  hereof. 

The  percentages  specified  in  this  Section  16  and  the  percentages  of 
gross  operating  revenues  of  the  Company  or  of  its  electric  light  and  power 
properties  required  by  Section  5  of  Article  II  hereof  to  be  included  in 
operating  expenses,  and  any  other  percentages  fixed  in  lieu 
thereof  as  hereinafter  provided,  shall  be  subject  to  readjust¬ 
ment  at  five-year  intervals  by  agreement  between  the  Company  and 
the  Trustee,  or,  in  case  they  are  unable  to  agree,  by  arbitration  as  herein¬ 
after  provided,  and  other  percentages  may  be  fixed,  which  the  Company 
agrees  shall  be  effective  and  binding  upon  it  during  the  succeeding  period 
of  five  calendar  years.  The  readjustment  of  any  such  percentage  may  be 
initiated  by  the  Company  or  the  Trustee  during  the  fifth  year  of  any  such 
five-year  period.  It  shall  be  the  duty  of  the  Trustee  to  initiate  the  read¬ 
justment  of  any  such  percentage  upon  being  requested  in  writing  by 
the  holders  of  ten  per  cent.  (10%)  of  the  principal  amount  of  the 
bonds  then  outstanding  hereunder.  The  report  and  opinion  of  an  engineer*, 
appointed  by  the  Trustee  to  advise  it  in  respect  of  any  such  readjust¬ 
ment,  shall  be  full  warrant,  authority  and  protection  for  any  action  taken 
or  omitted  by  the  Trustee  in  reliance  thereon.  In  case  the  Company  and 
the  Trustee  are  unable  to  agree  upon  the  readjustment  of  any  such  per¬ 
centage  within  the  first  nine  months  of  such  fifth  year  of  any  five-year 
period  the  question  in  dispute  shall  be  submitted  to  arbitration  as  here¬ 
inafter  provided. 


123 


(B)  The  Company  covenants  and  agrees  that  it  will  file  with 
the  Trustee  not  later  than  March  1  of  each  year,  commencing  March  1, 
1923,  a  certificate  signed  and  verified  by  the  Treasurer  or  one  of  the 
Assistant  Treasurers  of  the  Company,  showing  (a)  the  aggregate  of  the 
sums  required,  as  aforesaid,  to  be  appropriated  and/or  expended  by  it 
in  the  preceding  calendar  year  from  the  gross  operating  revenues  of 
such  year  of  its  electric  light  and  power  properties  and  of  its  street 
railway  properties,  respectively,  for  maintenance  and/or  depreciation  of 
all  of  its  properties,  and  that  the  sums  so  required  have  been  so  appro¬ 
priated  and/or  expended;  (b)  the  aggregate  of  the  sums  required,  as 
aforesaid,  to  be  actually  expended  by  it  in  the  preceding  calendar  year 
from  the  gross  operating  revenues  of  such  year  of  its  electric  light  and 
power  properties  and  of  its  street  railway  properties,  respectively,  for 
current  maintenance  of  such  properties;  and  (c)  the  aggregate  of  the 
sums  which  have  actually  been  expended  by  it  in  the  preceding  calendar 
year  from  the  gross  operating  revenues  of  such  year  of  its  electric  light 
and  power  properties  and  of  its  street  railway  properties,  respectively, 
for  current  maintenance  of  such  properties. 

If  the  certificate  required  by  this  sub-division  (B)  shall  show  that  the 
aggregate  of  the  sums  specified  in  (b)  thereof  as  required  to  be  actually 
expended  for  current  maintenance  is  greater  than  the  aggregate  of  the 
sums  specified  in  (c)  thereof  as  having  actually  been  expended  for  cur¬ 
rent  maintenance,  the  Company  covenants  and  agrees  that  it  will  pay 
in  cash  to  the  Trustee,  concurrently  with  the  filing  of  said  certificate,  a 
sum  equal  to  the  amount  by  which  (b)  exceeds  (c),  as  aforesaid. 

(C)  In  lieu  of  paying  cash  to  the  Trustee,  as  aforesaid,  under  the 
provisions  of  subdivision  (B),  and  to  the  extent  of  the  actual  cash  cost 
to  the  Company  of  the  property  included  therein,  the  Company  may  file 
with  the  Trustee  on  March  1  of  any  year,  a  certificate  signed  and  verified 
by  the  Treasurer  or  an  Assistant  Treasurer  of  the  Company  showing  that, 
during  the  calendar  year  preceding  the  date  of  filing  of  such  certificate, 
it  has  purchased  or  acquired  new  or  additional  permanent  tangible  prop- 


To  file  cer¬ 
tificate  of  ex¬ 
penditures 
and/or  ap¬ 
propriations 
for  mainte¬ 
nance  and/or 
depreciation. 


Cash  to  be 
paid  to  Trus¬ 
tee  in  certain 
cases. 


Certificate  of 
acquisition  of 
additional 
property  in 
lieu  of  cash 
payment. 


124 


See  page  92. 


See  page  87. 


Reserve  for 
maintenance  ; 
when  payable 
to  Company. 


erty  (other  than  hot  water  property)  or  has  made,  constructed  or 
acquired  permanent  tangible  extensions,  improvements  or  additions  of 
and  to  the  plants,  systems  or  property  of  the  Company  (other  than  its 
hot  water  properties),  subject  to  the  lien  of  this  Indenture,  in  addition 
to  any  property  included  in  any  certificate  filed  with  the  Trustee  pur¬ 
suant  to  the  provisions  of  subdivision  (8)  of  Section  4  of  Article  II 
hereof  or  in  any  other  certificate  filed  under  this  Section  16,  which  have 
not  been  made  the  basis  for  the  authentication  and  delivery  of  bonds 
under  Section  4  of  Article  II  hereof,  or  of  the  withdrawal  of  cash  held  by 
the  Trustee  under  any  provision  of  this  Indenture,  and  stating  the  actual 
cash  cost  thereof  to  the  Company. 

Any  cash  paid  to  the  Trustee  under  the  provisions  of  this  Section 
16  shall  be  credited  by  the  Trustee  to  an  account  to  be  known  as 
the  “Reserve  for  Maintenance”  and  shall  be  paid  to  the  Company  by  the 
Trustee,  from  time  to  time,  (1)  to  reimburse  the  Company  whenever  the 
Company  shall  file  with  the  Trustee  a  certificate  signed  and  verified  by 
the  Treasurer  or  an  Assistant  Treasurer  of  the  Company  showing  that, 
during  any  calendar  year  within  the  five  (5)  calendar  years  preceding  the 
date  of  the  filing  of  such  certificate  it  has  expended  cash  to  the  amount 
therein  stated  from  the  gross  operating  revenues  of  its  electric  light  and 
power  properties  and/or  of  its  street  railway  properties  for  current 
maintenance  of  its  electric  light  and  power  properties  and/or  its  street 
railway  properties,  in  excess  of  the  amounts  required  to  have  been  ex¬ 
pended,  as  aforesaid,  for  such  year;  or  (2)  to  reimburse  the  Company  for 
the  actual  cash  cost  of  the  property  included  therein,  whenever  the  Com¬ 
pany  shall  file  with  the  Trustee  a  certificate  signed  and  verified  by  the 
Treasurer  or  an  Assistant  Treasurer  of  the  Company,  showing  that  it  has 
purchased  or  acquired  new  or  additional  permanent  tangible  property 
(other  than  hot  water  property),  or  has  made,  constructed  or  acquired 
permanent  tangible  extensions,  improvements  or  additions  of  and  to  the 
plants,  systems  or  property  of  the  Company,  (other  than  its  hot  water 
properties),  subject  to  the  lien  of  this  Indenture,  in  addition  to  any 
property  included  in  any  certificate  filed  with  the  Trustee  pursuant 


125 


to  the  provisions  of  subdivision  (8)  of  Section  4  of  Article  II 
hereof  or  in  any  other  certificate  filed  under  this  Section  16,  which  have 
not  been  made  the  basis  for  the  authentication  and  delivery  of  bonds 
under  Section  4  of  Article  II  hereof,  or  of  the  withdrawal  of  cash  held 
by  the  Trustee  under  any  provision  of  this  Indenture,  and  stating  the 
actual  cash  cost  thereof  to  the  Company. 

(D)  Any  property  included  in  any  certificate  furnished  to  the  Trus¬ 
tee  under  the  provisions  of  this  Section  16,  shall  not  be  used  as  the  basis 
for  the  authentication  and  delivery  of  bonds  under  any  provision  of  this 
Indenture,  or  as  the  basis  for  the  withdrawal  of  cash  under  any  provision 
of  this  Indenture,  except  as  provided  in  this  Section  16. 

So  long  as  any  money  shall  remain  to  the  credit  of  the  Reserve  for 
Maintenance,  the  Trustee  shall  allow,  and  pay  to  the  Company,  interest 
thereon  at  such  rate  as  may  be  agreed  upon,  from  time  to  time,  by  the 
Company  and  the  Trustee. 

In  case  the  trust  estate  shall  be  sold,  either  under  the  power  of 
sale  herein  provided,  or  under  a  decree  of  court  in  a  suit  for  foreclosure 
of  this  Indenture,  any  funds  then  in  the  Reserve  for  Maintenance  shall 
be  added  to  and  dealt  with  as  if  they  were  part  of  the  proceeds  of  sale. 

(E)  In  case  the  Company  and  the  Trustee  are  unable  to  agree  upon 
the  readjustment  of  any  of  the  percentages  specified  in  Subdivision  (A) 
of  this  Section  16,  including  the  percentage  of  gross  operating  revenues 
of  the  Company  or  of  its  electric  light  and  power  properties  required  by 
Section  5  of  Article  II  hereof  to  be  included  in  operating 
expenses,  the  question  in  dispute  shall  be  submitted  to  the  arbitra¬ 
tion  of  three  disinterested  and  competent  persons  selected  in  the  follow¬ 
ing  manner:  either  the  Company  or  the  Trustee  shall  in  writing  name  its 
representative  upon  the  board  of  arbitration  and  notify  the  other  party. 
It  shall  be  the  duty  of  the  Trustee  so  to  do  upon  being  requested  in 

writing  by  the  holders  of  ten  per  cent.  (10%)  in  principal  amount  of  the 

♦ 

bonds  then  outstanding  hereunder.  Within  ten  days  after  the  receipt  of 


See  page  92. 


See  page  87. 


Property 
included  in 
certificate 
may  not  be 
further  used 
as  basis  for 
bonds  or  with 
drawal  of 
cash. 


Interest 
allowed  on 
reserve  for 
maintenance. 


In  case  of 
sale  reserve 
for  mainte¬ 
nance  added 
to  proceeds. 


See  page  121. 


See  page  93. 

Arbitration 
of  percentage 
of  gross 
operating 
revenues  or 
readjustments 
thereof. 


126 


such  notice  the  other  party  (that  is  to  say,  the  Company  or  the  Trustee,  as 
the  case  may  be)  shall  name  its  representative  and  give  written  notice  of 
such  selection  to  the  other  party,  failure  to  do  which  shall  entitle  the  other 
party  to  name  such  second  arbitrator.  The  two  thus  selected  shall  within  ten 
days  after  the  appointment  of  the  one  last  named  select  a  third  arbitrator, 
but  if  the  two  said  arbitrators  are  unable  within  said  ten  days  to  agree 
upon  such  third  arbitrator  then  upon  the  application  of  either  party,  the 
person  who  is  the  District  Judge  of  the  United  States  for  the  Federal 
District  and  Division  within  which  the  City  of  Columbus  is  located, 
senior  in  service,  shall  have  the  power  to  appoint  such  third  arbitrator, 
five  days’  notice  of  the  application  to  said  District  Judge  being  given  to 
the  other  party  by  the  party  applying.  Before  making  a  final  appoint¬ 
ment  pursuant  to  any  such  application  the  said  person  making  such 
appointment  shall  give  three  days’  notice  to  each  party,  of  the  person  or 
persons  considered  by  him,  and  either  party  may  within  said  three  days 
present  objections  to  any  person  or  persons  under  consideration.  When 
such  third  arbitrator  shall  have  been  appointed,  a  majority  of  the  board  of 
arbitration  shall  have  power  to  decide  the  questions  submitted  to  it,  and 
in  so  doing  may  consider  any  facts  whatsoever  deemed  by  them  to  be 
pertinent.  The  decision  of  a  majority  of  the  board  of  arbitration  shall  be 
final.  Any  vacancy  in  the  board  of  arbitration  shall  be  filled  in  the 
manner  of  the  original  appointment  of  the  arbitrator  whose  place  shall 
have  become  vacant.  Whenever  the  appointment  of  a  board  of  arbitra¬ 
tion  has  been  made  as  hereinbefore  provided,  the  questions  submitted 
for  decision  shall  be  decided  within  thirty  days  from  the  date  of  the 
appointment  of  the  third  arbitrator  unless  the  board  of  arbitration  unan¬ 
imously  agrees  to  an  extension,  and  should  said  question  not  be  deter¬ 
mined  within  said  thirty  days,  and  no  such  extensions  of  time  be  made, 
then  either  party  may  apply  to  the  person  who  is  senior  Judge  of  the 
District  Court  aforesaid  for  the  removal  of  the  third  arbitrator,  and 
the  appointment  of  a  third  arbitrator  in  the  place  of  the  one  removed, 
and  such  third  arbitrator  shall  be  appointed  as  hereinbefore  provided 
for  the  original  appointment  of  such  third  arbitrator.  In  the  event  of 


127 


the  disqualification  or  refusal  to  act  of  the  person  who  is  Judge  of  said 
District  Court  of  the  United  States  senior  in  service,  as  hereinbefore 
provided,  any  person  who  is  a  judge  of  Circuit  Court  of  Appeals  of  the 
United  States  for  said  district  shall  on  request  as  hereinbefore  provided 
have  power  to  appoint  or  remove  and  appoint  such  third  arbitrator  as 
is  hereinbefore  provided.  All  of  the  expenses  of  such  arbitration  shall  be 
paid  by  the  Company. 

Section  17.  The  Company  covenants  and  agrees  that,  except 
for  the  purpose  of  paying  dividends  accrued  and  accumulated  on  its  Pre¬ 
ferred  Stock,  Series  A  and  on  its  Preferred  Stock,  Series  B,  to  the  first 
dividend  date  or  dates  of  such  stocks,  respectively,  in  the  year  1922,  no 
cash  dividends  shall  be  declared  or  paid  on  any  of  its  capital  stock  of  any 
class  except  from  surplus  earnings  of  the  trust  estate  earned  subsequent 
to  January  1,  1922,  after  providing  from  such  surplus  earnings  for  all 
operating  expenses,  including  sinking  fund  payments  required  by  Article 
IV  hereof  and  all  fixed  charges,  and  after  appropriating  and/or  expend¬ 
ing  from  such  surplus  earnings,  the  amount  required  to  be  appropriated 
and/or  expended  for  maintenance  and/or  depreciation  by  Section  1G  of 
this  Article  V. 


ARTICLE  VI. 

Remedies. 

Section  1.  No  coupon  belonging  to  any  bond  hereby  secured,  which 
in  any  way  before,  at  or  after  maturity  shall  have  been  transferred  or 
pledged  separate  and  apart  from  the  bond  to  which  it  relates,  shall, 
unless  accompanied  by  such  bond,  be  entitled,  in  case  of  default  here¬ 
under,  to  any  benefit  of  or  from  this  Indenture,  except  after  the  prior 
payment  in  full  of  the  principal  of  all  bonds  issued  hereunder  and  of 
all  coupons  not  so  transferred  or  pledged.  No  purchase  or  sale  of  coupons 
nor  any  advance  or  loan  thereon,  made  by  or  on  behalf  of  or  at  the 
request  of  or  with  the  privity  of  the  Company,  and  no  redemption  of 
coupons  or  any  of  them  by  any  guarantor  of  the  payment  of  same,  shall 


Restrictions 
upon  divi¬ 
dends  which 
may  be  de¬ 
clared  or  paid 
by  the  Com¬ 
pany. 


See  page  109. 


See  page  121. 


Extended 

coupons. 


128 


Events  of 
default 
defined  and 
enumerated. 


See  page  109. 


be  taken  or  shall  operate  as  keeping  sncli  coupons  alive  or  in  force  as 
a  lien  upon  the  trust  estate  or  under  this  Indenture  as  against  the 
holders  of  the  bonds  or  of  the  remaining  coupons.  In  case  the  time  for 
the  payment  of  any  coupon  hereby  secured  shall  be  extended,  whether 
or  not  such  extension  be  by  or  with  the  consent  of  the  Company,  such 
coupon  so  extended  shall  not  be  entitled  in  case  of  default  hereunder  to 
the  benefit  or  security  of  this  Indenture,  except  subject  to  the  prior  pay¬ 
ment  in  full  of  the  principal  of  all  bonds  hereby  secured  and  then  out¬ 
standing  and  of  all  coupons,  the  time  for  the  payment  of  which  shall 
not  have  been  extended. 

Section  2.  In  case  any  one  or  more  of  the  following  events — else¬ 
where  in  this  Indenture  sometimes  termed  “events  of  default’’ — shall 
happen,  that  is  to  say: 

(a)  Default  shall  be  made  in  the  due  and  punctual  payment 
of  any  installment  of  interest  on  any  of  the  bonds  hereby  secured 
or  in  any  payment  required  under  the  provisions  of  Article  IV 
hereof  when  and  as  the  same  shall  become  due  and  payable  as 
therein  and  herein  expressed,  and  such  default  shall  continue  for 
a  period  of  sixty  (60)  days; 

(b)  Default  shall  be  made  in  the  due  and  punctual  payment 
of  the  principal  of  any  of  the  bonds  hereby  secured  when  and  as 
the  same  shall  become  due  and  payable  as  therein  and  herein 
expressed  or  by  declaration  or  otherwise  as  herein  provided; 

(c)  Default  shall  be  made  in  the  due  and  punctual  payment 
of  any  interest  on  any  of  the  underlying  securities  not  deposited 
witli  the  Trustee  hereunder  when  and  as  the  same  shall  become 
due  and  payable  as  therein  and  in  the  underlying  mortgage  secur¬ 
ing  the  same  expressed,  and  such  default  shall  continue  for  a 
period  of  thirty  (30)  days; 

( d )  Default  shall  be  made  in  the  due  and  punctual  payment 
of  the  principal  of  any  of  the  underlying  securities  not  deposited 


129 


with  the  Trustee  hereunder  when  and  as  the  same  shall  become 
due  and  payable,  either  at  the  maturity  thereof  or  by  declaration 
or  otherwise,  under  the  provisions  thereof  and  of  the  underlying 
mortgage  securing  the  same; 

(e)  Default  shall  be  made  in  the  performance  or  observance 
of  any  other  of  the  covenants,  agreements  or  conditions  on  the  part 
of  the  Company  to  be  kept,  observed  and  performed  in  this  Inden¬ 
ture  or  in  any  indenture  supplemental  hereto,  or  by  the  mortgagor 
in  any  underlying  mortgage,  or  in  the  bonds  hereby  or  thereby 
secured,  contained,  and  such  default  shall  continue  for  a  period 
of  sixty  (60)  days  after  written  notice  shall  have  been  given  to 
the  Company  by  the  Trustee  or  the  holders  of  twenty-five  per  cent. 
(25%)  in  principal  amount  of  the  bonds  hereby  secured  at  the 
time  outstanding,  specifying  sucli  default  and  requiring  the  same 
to  be  remedied; 

(/)  The  Company  shall  become  insolvent  or  be  adjudicated 
a  bankrupt,  or  an  order,  judgment  or  decree  shall  be  entered  by 
any  court  of  competent  jurisdiction  appointing  a  receiver  of  the 
Company  or  of  the  whole  or  any  part  of  the  trust  estate,  either 
upon  the  application  of  the  Company  or  with  its  consent  or  in  any 
other  manner,  and  such  receiver  shall  not  be  removed  or  discharged 
within  sixty  (60)  days  from  the  date  of  the  qualification  of  such 
receiver ; 

then  and  in  each  and  every  such  case  the  Trustee  may,  and  upon  the 
request  in  writing  of  the  holders  of  twenty -five  per  cent.  (25%)  in  prin¬ 
cipal  amount  of  the  bonds  hereby  secured  at  the  time  outstanding,  shall, 
by  notice  in  writing  delivered  to  the  Company,  declare  the  principal  of 
all  bonds  hereby  secured  and  then  outstanding,  together  with  all  accrued 
and  unpaid  interest  thereon,  if  not  already  due,  to  be  due  and  payable 
immediately;  and  upon  any  such  declaration  the  same  shall  become  and 
be  due  and  payable  immediately,  anything  in  this  Indenture  or  in  any 
of  the  bonds  contained  to  the  contrary  notwithstanding.  This  provision, 


Declaration 
that  principal 
is  due. 


130 


Rescission  of 
declaration. 


Rights  of 
Trustee  on 
happening 
of  events 
of  default. 


Entry. 


however,  is  subject  to  the  condition  that  if,  at  any  time  after  the  prin¬ 
cipal  of  said  bonds,  together  with  accrued  and  unpaid  interest  thereon, 
shall  have  been  so  declared  due  and  payable,  and  before  any  sale  of  the 
trust  estate  shall  have  been  made,  all  arrears  of  interest  upon  all  such 
bonds,  with  interest  upon  all  overdue  installments  of  interest  at  the  same 
rates  respectively  as  were  borne  by  the  bonds  of  which  installments  of 
interest  may  be  overdue,  together  with  the  reasonable  charges  and 
expenses  of  the  Trustee,  its  agents,  attorneys  and  counsel,  shall  either 
be  paid  by  the  Company  or  be  collected  and  paid  out  of  the  trust  estate, 
and  all  other  defaults,  if  any,  which  shall  have  occurred,  shall  have  been 
remedied  or  secured  to  the  reasonable  satisfaction  of  the  Trustee — then 
and  in  every  such  case  the  holders  of  a  majority  in  principal  amount 
of  the  bonds  hereby  secured  then  outstanding,  by  notice  in  writing  deliv¬ 
ered  to  the  Company  and  to  the  Trustee,  may  waive  such  default  and  its 
consequences  and  rescind  such  declaration;  but  no  such  waiver  or 
rescission  shall  extend  to  or  affect  any  subsequent  default  or  impair  or 
exhaust  any  right  or  power  consequent  thereon. 

Section  3.  In  case  any  one  or  more  of  the  events  of  default  enume¬ 
rated  in  Section  2  of  this  Article  VI  shall  happen  and  shall  be  continuing, 
then  and  in  each  and  every  such  case  the  Trustee,  personally  or  by  its 
attorneys  or  agents, 

I.  May  enter  into  and  upon  and  take  possession  of  all  the  trust 
estate  and  each  and  every  part  thereof  and  exclude  the  Company,  its 
successors  or  assigns,  its  or  their  agents,  servants  and  employees  wholly 
therefrom,  and  have,  hold,  use,  operate,  manage  and  control  the  same 
and  each  and  every  part  thereof  and,  in  the  name  of  the  Company  or 
otherwise  as  it  shall  deem  best,  conduct  the  business  thereof  and  exercise 
the  franchises  pertaining  thereto  and  all  the  rights  and  powers  of  the 
Company,  and  use  all  of  the  then  existing  property  and  assets  for  that 
purpose,  and  at  the  expense  of  the  trust  estate,  from  time  to  time,  main¬ 
tain,  restore,  insure  and  keep  insured  the  properties,  plants,  equipment 
and  apparatus  provided  or  required  for  use  in  connection  with  such 


131 


business,  and  likewise,  from  time  to  time,  at  the  expense  of  the  trust 
estate,  make  all  such  necessary  or  proper  repairs,  renewals  and  replace¬ 
ments,  and  all  such  useful  alterations,  additions  and  improvements 
as  to  it  may  seem  judicious,  and  collect  and  receive  all  tolls,  earn¬ 
ings,  income,  rents,  issues,  profits  and  revenues  of  the  same  and  of 
every  part  thereof,  and  after  deducting  therefrom  the  expenses  of  opera¬ 
tion  and  all  expenses  incurred  hereunder  and  all  other  proper  outlays 
herein  authorized,  and  all  payments  which  may  be  made  for  taxes, 
assessments,  insurance  and  prior  and  other  proper  charges  upon  the 
trust  estate  or  any  part  thereof,  including  any  and  all  payments  required 
by  any  underlying  mortgage  or  underlying  securities,  whether  of  prin¬ 
cipal  or  interest  or  otherwise,  as  well  as  just  and  reasonable  compensa¬ 
tion  for  its  own  services  and  for  the  services  of  such  attorneys,  agents 
and  assistants  as  it  may  in  the  exercise  of  its  discretion  employ  for  any 
of  the  purposes  aforesaid,  the  Trustee  shall  apply  the  rest  and  residue 
of  the  moneys  received  by  it  as  follows: 

(a)  In  case  the  principal  of  any  of  the  bonds  hereby  secured 
shall  not  have  become  due,  to  the  payment  of  the  interest  in 
default,  in  order  of  the  maturity  of  the  installments  of  such 
interest,  with  interest  on  the  overdue  installments  thereof  at  the 
same  rates,  respectively,  as  were  borne  by  the  bonds  on  which 
such  interest  shall  be  in  default;  such  payments  to  be  made 
ratably  to  the  persons  or  parties  entitled  thereto,  without  dis¬ 
crimination  or  preference;  subject,  however,  to  the  provisions  of 
Section  1  of  this  Article  VI;  and  next  (if  the  principal  of  said 
bonds  is  not  due)  to  the  discharge  of  any  overdue  payments  to 
the  Sinking  Fund. 

(b)  In  case  the  principal  of  any  of  the  bonds  hereby  secured 
shall  have  become  due,  by  declaration  or  otherwise,  first  to  the 
payment  of  accrued  interest  in  the  order  of  the  maturity  of  the 
installments  thereof  with  interest  on  the  overdue  installments 
thereof  at  the  same  rates,  respectively,  as  were  borne  by  the 


Application 
of  income  of 
trust  estate. 


See  page  127. 


132 


See  page  127. 


Restoration 
of  trust  estate 
to  Company. 


Sale  of 
trust  estate. 


bonds  on  which  such  interest  shall  be  in  default,  and  next  to 
the  payment  of  the  principal  of  all  bonds  then  due,  hereby  secured ; 
such  payments  to  be  made  ratably  to  the  person  or  parties  entitled 
thereto  without  discrimination  or  preference,  subject,  however, 
to  the  provisions  of  Section  1  of  this  Article  VI. 

In  case  all  of  such  payments  and  payment  of  whatever  may  be 
payable  for  any  other  purpose  required  by  any  provision  of  this  Inden¬ 
ture,  or  of  any  underlying  mortgage,  shall  have  been  made  in  full  and 
no  suit  to  foreclose  or  enforce  this  Indenture  or  any  underlying  mort¬ 
gage,  shall  have  been  begun  or  sale  made  as  hereinafter  or  therein 
provided,  and  upon  compliance  with  all  other  provisions  of  this  Inden¬ 
ture  and  of  any  underlying  mortgage  as  to  which  the  Company  shall  be 
in  default,  the  Trustee,  after  making  such  provision  as  to  it  may  seem 
advisable  for  the  payment  of  the  next  semi-annual  instalment  of  interest 
to  fall  due  upon  the  bonds,  shall  restore  the  possession  of  the  trust 
estate  (except  any  securities  or  moneys  required  by  any  provision  of  this 
Indenture  other  than  of  this  Article  VI  to  be  held  by  the  Trustee  here¬ 
under),  to  the  Company  or  whosoever  shall  be  entitled  hereto;  the  same 
right  of  entry,  however,  to  exist  upon  any  subsequent  default. 

II.  May  sell,  subject  to  the  then  prior  liens,  if  any,  existing 
thereon,  or  free  from  such  of  said  liens  as  it,  in  its  discretion,  may 
elect  to  discharge,  all  the  trust  estate  (and  the  entire  right,  title, 
interest,  claim  and  demand  therein  and  thereto  and  the  right  of 
redemption  thereof)  as  an  entirety,  or  in  such  parcels  or  lots  as  the 
holders  of  a  majority  in  principal  amount  of  the  bonds  outstanding 
hereunder  shall  in  writing  request,  or  in  the  absence  of  such  request,  as 
the  Trustee  may  determine,  at  public  auction,  at  some  convenient  place  in 
the  City  of  Columbus,  Ohio,  or  such  other  place  as  may  be  required  by  law, 
having  first  given  notice  of  such  sale  by  publication  in  at  least  one  news¬ 
paper  of  general  circulation  published  and  circulating  in  the  City  of 
Columbus,  Ohio,  at  least  once  a  week  for  four  weeks  next  preceding  such 


133 


sale,  by  like  publication  in  at  least  one  daily  newspaper  of  general  circula¬ 
tion  published  and  circulating  in  the  City  of  Chicago,  Illinois,  and  by 
like  publication  in  at  least  one  daily  newspaper  of  general  circula¬ 
tion  published  and  circulating  in  the  Borough  of  Manhattan,  City  of 
New  York,  and  any  other  notice  which  may  be  required  by  law, 
and  upon  such  sale  to  make  and  deliver  to  the  purchaser  or  purchasers 
a  good  and  sufficient  deed  or  deeds,  or  bill  or  bills  of  sale,  for  the  same, 
which  sale  shall  be  a  perpetual  bar,  both  at  law  and  in  equity,  against 
the  Company,  and  all  persons  and  corporations  lawfully  claiming  or  to 
claim  by,  through  or  under  it. 

III.  May  without  previous  demand  upon  the  Company,  sell 
any  of  the  underlying  securities  held  by  it,  at  public  sale,  either  as  an 
entirety  or  in  one  or  more  lots,  and  upon  any  such  sale,  the  Trustee  shall 
have  the  right  to  assign,  transfer  and  deliver  said  securities  to  the  pur¬ 
chaser.  The  Trustee  shall  give,  as  hereinafter  in  this  Subdivision  III 
specified,  written  notice  to  the  Company  of  its  intention  to  make  any  such 
sale.  Such  notice  shall  state  the  time  and  place  fixed  for  such  sale.  Any 
such  sale  shall  be  a  perpetual  bar,  both  at  law  and  in  equity,  against  the 
Company  and  all  persons  and  corporations  lawfully  claiming  or  to  claim 
by,  through  or  under  it. 

Notice  of  any  sale  under  this  Subdivision  III,  in  addition  to  any 
other  notice  required  by  law,  shall  be  mailed  at  least  fifteen  days  before 
the  date  of  sale,  in  the  City  of  Chicago  or  the  City  of  New  York,  in  a 
postpaid  wrapper,  addressed  to  the  Company  at  Columbus,  Ohio,  or  at 
such  other  address  as  the  Company  may  have  given  to  the  Trustee  in 
writing  for  the  purpose  and  a  copy  thereof  shall  be  published  in  at  least 
one  newspaper  of  general  circulation  published  and  circulating  in  the 
City  of  Columbus,  Ohio,  once  each  day  for  ten  days  prior  to  the  date  fixed 
for  such  sale.  The  Trustee  shall  not,  however,  be  obliged  to  make  any 
sale  pursuant  to  such  notices.  At  any  such  sale  the  Trustee  or  any  of  the 
holders  of  bonds  issued  hereunder,  or  its  or  their  agents  or  assigns,  may 
bid  for  and  purchase  the  securities  sold,  or  any  part  thereof,  and  upon 


Sale  of 
collateral. 


Notice  of  sale. 


134 


Application 
of  proceeds 
of  sale. 


See  page  131. 


Proceedings 
at  law  or  in 
equity. 


compliance  with  the  terms  of  sale  may  hold,  retain  and  dispose  of  the 
securities  purchased  without  further  accountability. 

The  proceeds  of  any  sale  under  the  provisions  of  this  Subdivision  III 
shall  be  applied  first,  to  the  payment  of  all  costs  and  expenses  of  such  sale, 
including  reasonable  compensation  to  the  Trustee,  its  agents  and  attor¬ 
neys,  and  of  all  other  sums  payable  to  the  Trustee  hereunder,  by  reason  of 
any  expenses  or  liabilities  incurred  or  advances  made  in  connection  with 
the  management  or  administration  of  the  trusts  hereby  created,  and 
second,  the  balance  thereof  shall  be  applied  in  the  manner  specified  in 
paragraphs  (a)  and  (b)  of  Subdivision  I  hereof,  and  third,  the  balance 
thereof  shall  be  paid  to  the  Company  and  by  it  held  subject  to  the  order 
of  The  Public  Utilities  Commission  of  Ohio,  or  its  lawful  successor. 

The  rights  vested  in  the  Trustee  under  the  provisions  of  this  Sub¬ 
division  III  are  in  addition  to  any  other  rights  vested  in  it  and  may  be 
exercised  by  the  Trustee  either  prior  to,  concurrently  with  or  subsequent 
to  the  taking  of  any  other  action  permitted  to  be  taken  by  the  Trustee 
under  any  other  provision  of  this  Indenture. 

IV.  May  proceed  to  protect  and  enforce  its  rights  and  the  rights 
of  the  bondholders  under  this  Indenture  by  appropriate  judicial  pro¬ 
ceedings,  by  suit  or  suits  at  law  or  in  equity  whether  for  the  specific 
performance  of  any  covenant  or  agreement  contained  herein,  or  in  aid 
of  the  exercise  of  any  power  herein  granted  or  to  enforce  payment  of 
the  bonds  then  outstanding  hereunder  and  to  foreclose  this  mortgage  and 
to  sell  the  trust  estate  under  the  judgment  or  decree  of  a  court  of  com¬ 
petent  jurisdiction;  or  for  the  enforcement  of  any  other  appropriate  legal 
or  equitable  remedy,  as  the  Trustee,  being  advised  by  counsel,  shall  deem 
most  effectual  to  protect  and  enforce  any  of  its  duties  or  its  or  their 
rights  hereunder;  and  it  shall  be  obligatory  upon  the  Trustee  to  take 
action,  either  by  such  proceedings  or  by  the  exercise  of  its  powers  with 
respect  to  entry  or  sale,  as  it  may  determine,  upon  being  requested  so 
to  do  by  the  holders  of  at  least  twenty-five  per  cent.  (25%)  in  principal 
amount  of  the  bonds  then  outstanding  hereunder  and  upon  being  indern- 


135 


nified  as  hereinafter  provided.  No  bondholder  or  bondholders  shall  bo 
entitled  to  take  any  such  proceedings  except  in  case  of  refusal  or  neglect 
of  the  Trustee  to  act  after  such  continued  breach  and  such  request  and 
tender  of  indemnity  as  aforesaid. 

No  remedy  by  the  terms  of  this  Indenture  conferred  upon  or  reserved 
to  the  Trustee  (or  to  the  bondholders),  is  intended  to  be  exclusive  of 
any  other  remedy,  but  each  and  every  such  remedy  shall  be  cumulative 
and  shall  be  in  addition  to  any  other  remedy  given  hereunder  or  now  or 
hereafter  existing  at  law  or  in  equity  or  by  statute,  and  may  be  exercised 
by  the  Trustee  either  prior  to,  concurrently  with  or  subsequent  to  the 
taking  of  any  other  action  permitted  to  be  taken  by  the  Trustee  under 
any  other  provision  of  this  Indenture  or  at  law  or  in  equity  or  by  statute. 

No  delay  or  omission  to  exercise  any  right  or  power  accruing  upon 
any  default  continuing  as  aforesaid,  shall  impair  any  such  right  or  power 
or  shall  be  construed  to  be  a  waiver  of  any  such  default  or  acquiescence 
therein;  and  every  such  right  and  power  may  be  exercised  from  time  to 
time  and  as  often  as  may  be  deemed  expedient. 

Section  4.  In  case  the  Trustee  shall  proceed  by  suit  or  suits  at  law 
or  in  equity  after  default  as  above  provided,  the  Trustee  shall  be  entitled 
to  have  the  trust  estate  sold  by  judicial  sale  under  the  order,  judgment 
or  decree  of  a  court  or  courts  of  competent  jurisdiction,  for  or  toward  the 
satisfaction  of  the  principal  and  interest  then  due  or  owing  on  the  bonds 
hereby  secured  then  outstanding,  and  for  the  enforcement  of  the  rights, 
liens  and  securities  of  the  Trustee  and  the  bondholders,  and  shall  be 

V  .  *  i  i  4 

entitled  pending  any  such  suit  or  proceedings,  as  a  matter  of  right,  to 
the  appointment  of  a  receiver  of  all  the  franchises  and  properties  and  of 
the  rents,  earnings,  revenues,  issues,  profits  and  income  of  the  Company, 
with  such  powers  as  the  court  making  such  appointment  may  confer, 
whether  the  trust  estate  shall  or  shall  not  be  adequate  and  sufficient  to 
pay  and  satisfy  the  bonds  then  outstanding;  but  notwithstanding  the 
appointment  of  any  receiver,  the  Trustee  shall  be  entitled  to  continue  to 
retain  possession  and  control  of  any  securities  and  cash  delivered  or  paid 


Remedies  not 
exclusive. 


Delay  or 
omission  not 
to  be  waiver. 


Judicial  sale. 


Appointment 
of  receiver. 


136 


Sale  in  one 
parcel  or  in 
several 
parcels. 

See  page  132. 


Adjournment 
of  sale. 


Receipt  for 

purchase 

money. 


to  the  Trustee  or  of  which  it  shall  have  taken  possession  under  this 
Indenture. 

Section  5.  In  the  event  of  any  sale  made  under  the  power  of  sale 
granted  and  conferred  in  subdivision  II  of  Section  3  of  this  Article  VI, 
or  by  virtue  of  judicial  proceedings,  the  whole  of  the  trust  estate, 
including  securities  held  by  the  Trustee,  shall  be  sold  in  one 
parcel  as  an  entirety,  unless  such  sale  as  an  entirety,  in  the  judg¬ 
ment  of  the  Trustee,  shall  be  impracticable  by  reason  of  some  statute 
or  other  cause,  or  unless  the  holders  of  a  majority  in  principal 
amount  of  the  bonds  hereby  secured  then  outstanding,  shall  in  writing 
request  the  Trustee  to  cause  the  trust  estate  to  be  sold  in  parcels,  in 
which  case  the  sale  shall  be  made  in  such  parcels  and  in  such  order  as 
may  be  specified  in  such  request,  but,  if  not  so  specified,  as  the  Trustee 
in  its  discretion  shall  deem  most  expedient  in  the  interest  of  the  bond¬ 
holders.  The  Company,  for  itself,  its  successors  and  assigns,  and  for 
all  persons  and  corporations  hereafter  claiming  through  or  under  it  or 
them  or  who  may  at  any  time  hereafter  become  holders  of  liens  junior 
to  the  lien  of  this  Indenture,  hereby  expressly  waives  and  releases  all 
right  to  have  the  trust  estate  or  any  part  thereof  marshalled  upon  any 
foreclosure,  sale  or  other  enforcement  hereof,  and  the  Trustee,  or  any 
court  in  which  the  foreclosure  of  this  Indenture  or  the  administration 
of  the  trusts  hereby  created  is  sought,  shall  have  the  right  as  aforesaid 
to  sell  the  entire  trust  estate  as  a  whole  in  a  single  parcel. 

Section  6.  The  Trustee  may  adjourn  from  time  to  time  any  sale  to 
be  made  by  it  under  any  provision  of  this  Indenture,  by  announcement 
at  the  time  and  place  appointed  for  such  sale  or  for  such  adjourned  sale 
or  sales;  and  without  further  notice  or  publication  (unless  otherwise 
required  by  law),  it  may  make  such  sale  at  the  time  and  place  to  which 
the  same  may  he  adjourned. 

Section  7.  The  receipt  or  receipts  of  the  Trustee  for  the  purchase 
money  paid  at  any  such  sale,  shall  be  a  sufficient  discharge  therefor  to 


137 


any  purchaser  of  the  property  or  any  part  thereof  sold  as  aforesaid;  and 
no  such  purchaser,  or  his.  representatives,  grantees  or  assigns,  after  pay¬ 
ing  such  purchase  money  and  receiving  such  receipt,  shall  be  bound  to 
see  to  the  application  of  such  purchase  money  upon  or  for  any  trust  or 
purpose  of  this  Indenture,  or  in  any  manner  whatsoever  be  answerable 
for  any  loss,  misapplication  or  non-application  of  any  such  purchase 
money  or  any  part  thereof,  or  be  bound  to  inquire  as  to  the  authorization, 
necessity,  expediency  or  regularity  of  any  such  sale. 


Section  8.  Upon  any  sale  of  the  trust  estate  as  aforesaid,  any  Purchaser 

may  use 

purchaser,  for  the  purpose  of  making  settlement  or  payment  for 
the  property  purchased,  shall  be  entitled  to  use  and  apply  any 
bonds  hereby  secured  and  then  outstanding,  and  any  matured  and 
unpaid  interest  coupons  appertaining  thereto,  by  presenting  the 
same  so  that  there  may  be  credited,  as  paid  thereon,  the  sums 
payable  out  of  the  net  proceeds  of  such  sale  to  the  holders  of 
such  bonds  and  coupons  as  his  ratable  share  of  such  net  proceeds,  after 
allowing  for  the  proportion  of  the  total  purchase  price  required  to  be 
paid  in  cash  for  the  cost  and  expenses  of  the  sale,  compensation  and  other 
charges;  and  thereupon  such  purchaser  shall  be  credited  on  account  of 
such  purchase  price  payable  by  him,  with  the  portion  of  such  net  proceeds 
that  shall  be  applicable  to  the  payment  of,  and  that  shall  have  been 
credited  upon  the  bonds  and  coupons  so  presented ;  and  at  any  such 
sale  any  bondholder  or  the  Trustee  may  bid  for  and  purchase  such 
property,  and  make  payment  on  account  thereof  as  aforesaid,  and  upon 
compliance  with  the  terms  of  sale,  may  hold,  retain  and  dispose  of  such 
property  without  further  accountability  therefor.  The  provisions  of 


this  section  are  subject  to  the  provisions  of  Section  1  of  this  Article  VI.  see  page  127. 


Section  9.  Upon  the  completion  of  any  sale  or  sales  under  or  by  Conveyance 

x  A  "  to  purchasei 

virtue  of  this  Indenture,  the  Trustee  shall  execute  and  deliver  to  the  pur-  atanysa,e- 
chaser  a  good  and  sufficient  deed  or  other  instruments  conveying,  assign¬ 
ing  and  transferring  the  property  sold.  The  Trustee  and  its  successors 


138 


Entire  inter¬ 
est  of  Com¬ 
pany  to  be 
divested  by 
sale. 


Application 
of  proceeds 
of  sale. 


See  page  133. 


are  hereby  irrevocably  appointed  the  true  and  lawful  attorneys  of  the 
Company,  in  its  name  and  stead,  to  make  all  necessary  conveyances, 
assignments  and  transfers  of  property  thus  sold;  and  for  that  purpose 
it  and  they  may  execute  all  necessary  deeds  and  instruments  of  assign¬ 
ment  and  transfer,  and  may  substitute  one  or  more  persons  with  like 
power;  the  Company  hereby  ratifying  and  confirming  all  that  its  said 
attorneys,  or  such  substitute  or  substitutes,  shall  lawfully  do  by  virtue 
hereof.  Nevertheless,  the  Company,  if  so  requested  by  the  Trustee,  shall 
ratify  and  confirm  any  sale  or  sales  by  executing  and  delivering  to  the 
Trustee  or  to  such  purchaser  or  purchasers  all  such  instruments  as 
may  be  necessary,  or  in  the  judgment  of  the  Trustee  proper,  for  the 
purpose  and  as  may  be  designated  in  such  request. 

Section  10.  Any  such  sale  or  sales  made  under  or  by  virtue  of  this 
Indenture,  whether  under  any  power  of  sale  herein  granted  and  conferred 
or  by  virtue  of  judicial  proceedings,  shall  operate  to  divest  all  right,  title, 
interest,  claim  and  demand  whatsoever,  either  at  law  or  in  equity,  of 
the  Company,  in  and  to  the  premises  and  property  sold,  and  shall  be  a  per¬ 
petual  bar  both  at  law  and  in  equity,  against  the  Company,  its  successors 
and  assigns,  and  against  any  and  all  persons  claiming  or  to  claim  the 
premises  or  property  sold  or  any  part  thereof  from,  through  or  under  the 
Company  or  its  successors  or  assigns. 

Section  11.  Subject  to  the  provisions  of  subdivision  III  of  Section  3 
of  Article  VI  hereof,  the  purchase  money,  proceeds  and  avails  of  any  sale, 
whether  made  under  any  power  of  sale  herein  granted  or  pursuant  to 
judicial  proceedings,  together  with  any  other  sums  which  then  may  be 
held  by  the  Trustee  under  any  of  the  provisions  of  this  Indenture  as  part 
of  the  trust  estate  or  the  proceeds  thereof  or  otherwise,  shall  be  applied 
as  follows: 

First.  To  the  payment  of  the  costs  and  expenses  of  such  sale, 
including  a  reasonable  compensation  to  the  Trustee,  its  agents, 
attorneys  and  counsel,  and  of  all  necessary  or  proper  expenses, 


139 


liabilities  and  advances  made  or  incurred  by  the  Trustee  under 
this  Indenture,  and  to  the  payment  of  all  taxes,  assessments  or 
liens  superior  to  the  lien  of  this  Indenture,  except  any  taxes, 
assessments  or  other  superior  liens  subject  to  which  such  sale 
shall  have  been  made. 

Second.  To  the  payment  of  the  whole  amount  then  owing  or 
unpaid  upon  the  bonds  hereby  secured  and  then  outstanding  for 
principal  and  interest,  with  interest  on  overdue  principal  and  over¬ 
due  installments  of  interest  at  the  same  rates,  respectively,  as 
were  borne  by  the  respective  bonds  whereof  the  principal  or  install¬ 
ments  of  interest  may  be  overdue,  and,  in  case  such  proceeds  shall 
be  insufficient  to  pay  in  full  the  whole  amount  so  due  and  unpaid 
upon  the  bonds,  then  to  the  payment  of  such  principal  and  interest, 
without  preference  or  priority  of  principal  over  interest,  or  of 
interest  over  principal,  or  of  any  installment  of  interest  over  any 
other  installment  of  interest,  or  of  any  series  over  any  other 
series,  ratably  to  the  aggregate  of  such  principal  and  the  accrued 
and  unpaid  interest,  subject,  however,  to  the  provisions  of  Sec¬ 
tion  1  of  this  Article  VI.  Such  payments  shall  be  made  on  the 
date  fixed  therefor  by  the  Trustee,  upon  presentation  of  the  several 
bonds,  and  coupons  and  stamping  thereon  the  amount  paid  if  such 
bonds  and  coupons  be  only  partly  paid,  and  upon  surrender  and 
cancellation  thereof  if  fully  paid. 

Third.  To  the  payment  of  the  surplus,  if  any,  to  the  Company, 
its  successors  or  assigns,  or  to  whosoever  may  be  lawfully  entitled 
to  receive  the  same,  or  as  a  court  of  competent  jurisdiction  may 
direct. 

Section  12.  In  case  of  any  sale,  whether  made  under  any  power  of 
sale  herein  granted  or  pursuant  to  judicial  proceedings,  or  in  case  of 
any  sale  in  foreclosure  of  any  underlying  mortgage,  the  principal  of  all 
the  bonds  hereby  secured,  if  not  previously  due,  immediately  thereupon 


See  page  127. 


Sale  matures 
principal  of 
bonds. 


140 


Company 
covenants  on 
default  to  pay 
principal  and 
interest  to 
Trustee. 


See  page  139. 


Right  of 
Trustee 
to  secure 
judgment 
therefor. 


shall  become  due  and  payable,  anything  in  said  bonds  or  in  this  Inden¬ 
ture  contained  to  the  contrary  notwithstanding. 

Section  13.  The  Company  covenants  that  (1)  in  case  default  shall 
be  made  in  the  payment  of  any  interest  on  any  bond  or  bonds  at  any 
time  outstanding  and  secured  by  this  Indenture  and  such  default  shall 
continue  for  a  period  of  sixty  (60)  days;  or  (2)  in  case  default  shall 
be  made  in  the  payment  of  the  principal  of  any  such  bonds  when  the  same 
shall  have  become  payable,  whether  at  the  maturity  of  said  bonds,  or  by 
a  declaration  as  authorized  by  this  Indenture,  or  upon  a  sale  as  set  forth 
in  Section  12  of  this  Article  VI, — then,  upon  demand  of  the  Trustee, 
the  Company  will  pay  to  the  Trustee,  for  the  benefit  of  the  holders  of 
the  bonds  and  coupons  hereby  secured  and  then  outstanding,  the  whole 
amount  then  due  and  payable  on  all  such  bonds  and  coupons  then  out¬ 
standing,  for  interest  or  principal,  or  both,  as  the  case  may  be,  with 
interest  upon  the  overdue  principal  and  the  overdue  installments  of  inter¬ 
est  at  the  same  rates,  respectively,  as  were  borne  by  the  respective  bonds 
whereof  the  principal  or  installments  of  interest  shall  be  overdue;  and, 
in  case  the  Company  shall  fail  to  pay  the  same  forthwith  upon  such 
demand,  the  Trustee,  in  its  own  name  and  as  trustee  of  an  express  trust, 
shall  be  entitled  to  recover  judgment  against  the  Company  for  the  whole 
amount  so  due  and  unpaid. 

The  Trustee  shall  be  entitled  to  recover  judgment  as  aforesaid,  either 
before  or  after  or  during  the  pendency  of  any  proceedings  for  the  enforce¬ 
ment  of  the  lien  of  this  Indenture,  and  the  right  of  the  Trustee  to 
recover  such  judgment  shall  not  be  affected  by  any  entry  or  sale  here¬ 
under,  or  by  the  exercise  of  any  other  right,  power  or  remedy  for  the 
enforcement  of  the  provisions  of  this  Indenture  or  the  foreclosure  of  the 
lien  thereof,  and  in  the  case  of  a  sale  of  the  trust  estate,  and  of  the 
application  of  the  proceeds  of  sale  to  the  payment  of  the  indebtedness 
hereby  secured,  the  Trustee,  in  its  own  name  and  as  trustee  of  an  express 
trust,  shall  be  entitled  to  enforce  payment  of  and  to  receive  all  amounts 
then  remaining  due  and  unpaid  upon  any  and  all  of  the  bonds  and  cou- 


141 


pons  hereby  secured  then  outstanding,  for  the  benefit  of  the  holders 
thereof,  and  shall  be  entitled  to  recover  judgment  for  any  portion  of 
the  indebtedness  remaining  unpaid,  with  interest,  as  aforesaid.  No 
recovery  of  any  such  judgment  by  the  Trustee,  and  no  levy  of  any  execu¬ 
tion  upon  any  such  judgment  upon  the  trust  estate  or  any  part  thereof, 
or  upon  any  other  property,  shall  in  any  manner  or  to  any  extent  affect 
the  lien  of  this  Indenture  upon  the  trust  estate  or  any  part  thereof,  or 
any  rights,  powers  or  remedies  of  the  Trustee  hereunder,  or  any  lien, 
rights,  powers  or  remedies  of  the  holders  of  the  bonds  hereby  secured, 
but  such  lien,  rights,  powers  and  remedies  shall  continue  unimpaired  as 
before. 

Any  moneys  collected  by  the  Trustee  under  this  Section  13  shall 
be  applied  by  the  Trustee  towards  payment  of  the  amounts  then  due  and 
unpaid  upon  such  bonds  and  coupons  in  respect  whereof  such  moneys 
shall  have  been  collected,  ratably  and  without  any  preference  or  priority 
of  any  kind  ( except  as  provided  in  Section  1  of  this  Article  VI ) ,  accord¬ 
ing  to  the  amounts  due  and  payable  upon  such  bonds  and  coupons, 
respectively,  at  the  date  fixed  by  the  Trustee  for  the  distribution  of 
such  moneys,  upon  presentation  of  the  several  bonds  and  coupons  and 
stamping  such  payment  thereon,  if  partly  paid,  and  upon  surrender 
and  cancellation  thereof,  if  fully  paid. 

Section  14.  The  Company  will  not  at  any  time  insist  upon  or  plead, 
or  in  any  manner  whatever  claim  or  take  the  benefit  or  advantage  of,  any 
stay  or  extension  law  now  or  at  any  time  hereafter  in  force;  nor  will  it 
claim,  take  or  insist  on  any  benefit  or  advantage  from  any  law  now  or 
at  any  time  hereafter  in  force  providing  for  the  valuation  or  appraise¬ 
ment  of  the  trust  estate  or  any  part  thereof,  prior  to  any  sale  or  sales 
thereof  to  be  made  pursuant  to  any  provisions  herein  contained  or  to 
the  decree,  judgment  or  order  of  any  court  of  competent  jurisdiction; 
nor  after  any  such  sale  or  sales  will  it  claim  or  exercise  any  right  under 
or  conferred  by  any  statute  enacted  by  the  United  States  or  by  any 
State  or  territory,  or  otherwise,  to  redeem  the  property  sold  or  any 


Application 
of  moneys 
collected  by 
Trustee. 


See  page  127. 


Waiver  of 
stay,  exten¬ 
sion,  valua¬ 
tion,  appraise¬ 
ment  and 
redemption 
laws. 


142 


Majority  of 
bondholders 
may  direct 
proceedings. 


Duty  of  Trus¬ 
tee  to  act  to 
protect  and 
enforce  its 
rights  and 
the  rights  of 
the  bond¬ 
holders. 


part  thereof ;  and  it  hereby  expressly  waives  and  relinquishes  all  benefit 
and  advantage  of  any  and  all  such  stay,  extension,  valuation,  appraise¬ 
ment  and  redemption  law  or  laws;  and  it  hereby  covenants  that  it  will 
not  hinder,  delay  or  impede  the  execution  of  any  power  herein  granted 
and  delegated  to  the  Trustee,  but  that  it  will  suffer  and  permit  the 
execution  of  every  such  power  as  though  no  such  law  or  laws  had  been 
.made  or  enacted. 

Section  15.  Anything  in  this  Indenture  to  the  contrary  notwith¬ 
standing,  the  holders  of  a  majority  in  principal  amount  of  the  bonds 
then  outstanding  hereunder  shall  have  the  right,  by  an  instrument  in 
writing  executed  and  delivered  to  the  Trustee,  to  direct  the  method  and 
place  of  conducting  all  proceedings  to  be  taken  for  any  sale  of  the  trust 
estate,  or  for  the  foreclosure  of  this  Indenture,  or  for  the  appointment  of 
a  receiver,  or  any  other  proceedings  hereunder;  provided  that  such  di¬ 
rection  shall  not  be  otherwise  than  in  accordance  with  the  provisions  of 
law  or  of  this  Indenture. 

Section  16.  Upon  the  written  request  of  the  holders  of  twenty-five 
per  cent.  (25%)  in  principal  amount  of  the  bonds  hereby  secured  and  then 
outstanding,  in  case  one  or  more  of  the  events  of  default  shall  happen  and 
shall  be  continuing,  it  shall  be  the  duty  of  the  Trustee,  upon  being  indem¬ 
nified  as  hereinafter  provided,  to  take  all  steps  needful  for  the  protection 
and  enforcement  of  its  rights  and  the  rights  of  the  holders  of  the  bonds 
hereby  secured  and  to  exercise  any  powers  of  entry  or  sale  herein  con¬ 
ferred,  or  both,  or  to  take  appropriate  judicial  proceedings  by  action, 
suit  or  otherwise,  as  the  Trustee,  being  advised  by  counsel,  shall  deem 
most  expedient  in  the  interest  of  the  holders  of  the  bonds  hereby  secured; 
but,  anything  in  this  Indenture  to  the  contrary  notwithstanding  the 
holders  of  a  majority  in  principal  amount  of  the  bonds  hereby 
secured  then  outstanding,  from  time  to  time,  shall  have  the  right  to 
direct  and  control  the  action  of  the  Trustee  in  any  proceedings  under 
this  Article  VI. 


143 


Section  17.  No  holder  of  any  bond  or  coupon  hereby  secured  shall 
have  the  right  to  institute  any  suit,  action  or  proceeding  in  equity  or  at 
law  for  the  foreclosure  of  this  Indenture,  or  for  the  execution  of  any 
trust  or  power  hereof,  or  for  the  appointment  of  a  receiver,  or  for  the 
enforcement  of  any  other  remedy  under  or  upon  this  Indenture,  unless 
such  holder  previously  shall  have  given  to  the  Trustee  written  notice 
of  some  existing  default  and  of  the  continuance  thereof,  as  hereinbefore 
provided;  nor  unless,  also,  the  holders  of  twenty-five  per  cent,  in  prin¬ 
cipal  amount  of  the  bonds  hereby  secured  at  the  time  outstanding  shall 
have  requested  the  Trustee  in  writing,  after  the  right  to  exercise  such 
powers,  or  right  of  action,  as  the  case  may  be,  shall  have  accrued,  and 
shall  have  afforded  to  it  a  reasonable  opportunity,  either  to  proceed  to 
exercise  the  powers  hereinbefore  granted,  or  to  institute  such  action,  suit 
or  proceeding  in  its  own  name ;  nor,  unless,  also,  such  holder  or  holders 
shall  have  offered  to  the  Trustee  adequate  security  and  indemnity  against 
the  costs,  expenses  and  liabilities  to  be  incurred  therein  or  thereby,  and 
the  Trustee  shall  have  refused  or  neglected  to  comply  with  such  request 
within  a  reasonable  time;  and  such  notification,  request  and  offer  of 
indemnity  are  hereby  declared,  in  every  such  case,  at  the  option  of  the 
Trustee,  to  be  conditions  precedent  to  the  execution  of  the  powers  and 
trusts  of  this  Indenture  and  to  any  action  or  cause  of  action  for  fore¬ 
closure  or  for  the  appointment  of  a  receiver,  or  for  any  other  remedy 
hereunder ;  it  being  understood  and  intended  that  no  one  or  more  holders 
of  bonds  or  coupons  hereby  secured  shall  have  any  right  in  any  manner 
whatever  hereunder  or  under  the  bonds  or  coupons  by  his  or  their  action 
to  affect,  disturb  or  prejudice  the  lien  of  this  Indenture  or  to  enforce 
any  right  hereunder,  except  in  the  manner  herein  provided,  and  that  all 
proceedings  hereunder,  at  law  or  in  equity,  shall  be  instituted,  had  and 
maintained  in  the  manner  herein  provided  and  for  the  ratable  benefit 
of  all  holders  of  such  outstanding  bonds  and  coupons.  Nothing  herein 
contained  shall,  however,  affect  or  impair  the  right  of  any  bondholder, 
which  is  absolute  and  unconditional,  to  enforce  the  payment  of  the 
principal  and  interest  of  his  bonds  at  and  after  the  maturity  thereof, 


Bondholders 
cannot  avail 
of  certain 
remedies  un¬ 
less  Trustee 
refuses  or 
neglects 
to  act. 


Absolute 
right  of  bond¬ 
holders  to 
enforce  pay¬ 
ment  of  prin¬ 
cipal  and 
interest. 


144 


Rights  not 
affected  by 
discontinu¬ 
ance  or 
abandonment 
of  proceed¬ 
ings. 


Remedies  not 
restricted  to 
any  particular 
property. 


Trustee  may 

enforce 

remedies 

without 

possession 

of  bonds  or 

coupons. 


or  the  obligation  of  the  Company,  which  is  also  absolute  and  uncondi¬ 
tional,  to  pay  the  principal  and  interest  of  each  of  the  bonds  issued  here¬ 
under  to  the  respective  holders  thereof  at  the  time  and  place  in  said  bonds 
expressed. 

Section  IS.  In  case  the  Trustee  shall  have  proceeded  to  enforce  any 
right  under  this  Indenture  by  foreclosure,  entry  or  otherwise  and  such 
proceedings  shall  have  been  discontinued  or  abandoned  because  of  any 
waiver  as  in  this  Article  provided  or  for  any  other  reason,  or  shall  have 
been  determined  adversely  to  the  Trustee,  then  and  in  every  such  case, 
the  Company  and  the  Trustee  shall  severally  and  respectively  be  restored 
to  their  former  positions  and  rights  hereunder  in  respect  to  the  trust 
estate,  and  all  rights,  remedies  and  powers  of  the  Trustee  shall  continue 
as  though  no  such  proceedings  had  been  taken. 

Section  19.  Nothing  in  this  Indenture  contained,  or  otherwise,  shall 
be  construed  as  requiring  the  Trustee  or  the  bondholders  to  resort  to  any 
particular  property  mortgaged  or  pledged  hereunder,  or  to  pursue  any 
particular  remedy  for  the  purpose  of  procuring  the  satisfaction  of  the 
indebtedness  hereby  secured,  but  the  Trustee  and  the  bondholders  may 
resort  to  all  or  any  part  of  the  trust  estate  or  enforce  all  or  any  of  the 
rights  herein  provided  or  which  may  be  given  by  statute,  law  or  equity 
or  otherwise,  in  the  absolute  discretion  of  the  Trustee  or  the  bondholders, 
as  the  case  may  be. 

Section  20.  All  rights  of  action  under  this  Indenture,  or  under  any 
of  the  bonds  outstanding  hereunder,  enforcible  by  the  Trustee,  may  be 
enforced  by  the  Trustee  without  the  possession  of  any  of  such  bonds  or 
the  coupons  thereunto  belonging,  or  the  production  thereof  on  the  trial 
or  other  proceedings  relative  thereto,  and  any  such  suit  or  proceedings 
instituted  by  the  Trustee,  shall  be  brought  in  its  own  name  for  the  ratable 
benefit  of  the  holders  of  said  bonds  and  coupons,  subject  to  the  provisions 
of  this  Indenture. 


145 


ARTICLE  VII. 

Concerning  the  Bondholders. 

Any  demand,  request  or  other  instrument  required  by  this  Indenture 
to  be  signed  and  executed  by  bondholders,  may  be  in  any  number  of 
concurrent  writings  of  similar  tenor,  and  may  be  signed  or  executed  by 
such  bondholders  in  person  or  by  agent  duly  appointed  in  writing. 
Proof  of  the  execution  of  any  such  demand,  request  or  other  instrument, 
or  of  the  writing  appointing  any  such  agent,  and  of  the  ownership  by 
any  person  of  bonds  hereby  secured,  shall  be  sufficient  for  any  purpose 
of  this  Indenture,  and  shall  be  conclusive  in  favor  of  the  Trustee  and 
of  the  Company  with  regard  to  due  action  by  the  Trustee  taken  under 
such  demand,  request  or  other  instrument,  if  made  in  the  following 
manner : 

The  fact  and  date  of  the  execution  by  any  person  of  any  such 
demand,  request  or  other  instrument  may  be  proved  by  the  certificate 
of  any  notary  public  or  other  officer  authorized  to  take  acknowledgment 
of  deeds  to  be  recorded  in  the  State  of  Ohio,  that  the  person  signing  such 
demand,  request  or  other  instrument  acknowledged  before  him  the  execu¬ 
tion  thereof ;  or  by  a  written  affidavit  before  any  such  notary  public 
or  other  officer  by  a  witness  of  such  execution. 

The  fact  of  the  holding  by  any  person  of  bonds  transferable  by 
delivery  and  the  amounts,  serial  designations  and  distinctive  numbers 
of  such  bonds,  and  the  date  of  his  holding  the  same,  may  be  proved  by 
a  certificate  executed  by  any  trust  company,  bank,  bankers  or  other 
depositary,  wherever  situated,  if  such  certificate  shall  be  deemed  by  the 
Trustee  to  be  satisfactory,  setting  forth  that  on  the  date  therein  men¬ 
tioned  such  person  had  on  deposit  with  such  depositary  the  bonds 
described  in  such  certificate. 

For  all  purposes  of  this  Indenture  and  of  any  proceedings  for  the 
enforcement  thereof,  such  person  shall  be  deemed  to  continue  the  holder 
of  such  bonds  until  the  Trustee  shall  have  received  notice  in  writing  to 


Execution  o£ 
requests  ; 
proof  of 
ownership. 


146 


the  contrary.  In  the  absence  of  such  certificate,  the  bond  or  bonds  of 
such  person  must  be  deposited  with  the  Trustee,  if  so  required  by  it, 
pending  such  action  as  the  Trustee  may  take  hereunder. 

The  ownership  of  registered  bonds  shall  be  proved  by  the  registers  of 
such  bonds. 

ARTICLE  VIII. 

Immunities  of  Officers,  Directors  and  Stockholders. 

No  recourse  under  or  upon  any  obligation,  covenant  or  agreement 
contained  in  this  Indenture,  or  in  any  bond  or  coupon  hereby  secured,  or 
because  of  the  creation  of  any  indebtedness  hereby  secured,  shall  be  had 
against  any  incorporator,  or  against  any  past,  present  or  future  stock¬ 
holder,  officer  or  director,  of  the  Company,  or  of  any  predecessor  or 
successor  corporation,  either  directly  or  through  the  Company  or  any 
such  predecessor  or  successor  corporation,  by  the  enforcement  of  any 
assessment  or  penalty,  or  for  the  recovery  of  amounts  unpaid  on  stock 
subscriptions,  or  by  any  legal  or  equitable  proceeding  by  virtue  of  any 
constitution,  statute  or  law  or  otherwise;  it  being  expressly  agreed  and 
understood  that  this  Indenture  and  the  obligations  hereby  secured,  are 
solely  corporate  obligations  and  that  no  personal  liability  whatever,  under 
any  circumstances  or  conditions,  shall  attach  to  or  be  incurred  by  the 
incorporators,  stockholders,  officers  or  directors  of  the  Company  or  of  any 
predecessor  or  successor  corporation,  or  any  of  them,  because  of  the 
incurring  of  the  indebtedness  hereby  authorized,  or  under  or  by  reason 
of  any  of  the  obligations,  covenants  or  agreements  contained  in  this 
Indenture  or  in  any  of  the  bonds  or  coupons  hereby  secured,  or  implied 
therefrom ;  and  that  any  and  all  personal  liability  of  every  name  and 
nature,  and  any  and  all  rights  and  claims  against  every  such  incorporator, 
stockholder,  officer  or  director,  whether  arising  at  common  law  or  in 
equity,  or  created  by  statute  or  constitution,  are  hereby  expressly  released 
and  waived  by  the  Trustee  and  by  each  of  the  bondholders,  as  a  condition 
of,  and  as  part  of  the  consideration  for,  the  execution  of  this  Indenture 
and  the  issue  of  the  bonds  and  coupons  secured  hereby. 


147 


ARTICLE  IX. 

Concerning  Securities  Held  by  the  Trustee. 

Section  1.  Unless  and  until  one  or  more  of  tlie  events  of  default 
specified  in  Section  2  of  Article  VI  shall  occur  and  shall  be  continuing:  See  page  128. 

(a)  The  Trustee  shall  not  (except  with  the  consent  of  the  until  an 

event  of 

Company  or  as  otherwise  authorized  by  this  Indenture),  whether  occur,1 'com-1 
at  or  before  or  after  the  maturity  thereof,  collect  or  be  entitled  to  con«*prin- 

cipal  of  or 

enforce  the  collection  of,  the  principal  or  interest  of  any  bonds  or  judged  °e- 

curitics 

other  obligations  or  indebtedness  deposited  and  pledged  under  this 
Indenture,  and  shall  not  enforce  any  provisions  of  the  mortgages, 
trust  deeds  or  other  instruments  under  which  such  bonds  or  other 
obligations  were  issued  or  by  which  the  same  may  be  secured;  but 
the  Company  shall  be  entitled  to  receive  all  interest  paid  in  respect 
of  any  such  bonds  or  obligations  or  indebtedness;  except  that  in 
case  default  shall  be  made  in  the  performance  or  observance  of  the 
covenants  contained  in  Section  7  of  Article  V  hereof  in  respect  of  seepage  117. 
any  issue  of  underlying  securities  or  the  mortgage  or  other  instru¬ 
ment  securing  the  same  and  such  default  shall  be  continuing,  then 
and  thereupon  the  Trustee  shall  be  entitled  to  payment  of  the 
principal,  when  due  and  payable,  of  all  of  the  uncancelled  under¬ 
lying  securities  of  that  issue  then  so  held  by  the  Trustee,  and  of 
all  interest  thereon  maturing  on  or  subsequent  to  the  date  upon 
which  default  shall  be  made,  and  payment  thereof  may  be  enforced, 
ratably  and  equally  with  all  of  the  other  underlying  securities  of 
such  issue  not  deposited  with  the  Trustee;  and  the  Trustee  may 
demand  and  enforce  payment  of  all  sums  due,  whether  for  interest 
or  principal,  and  may  take  such  other  action  as  shall  in  its  judg¬ 
ment  be  desirable  or  necessary  to  avail  of  the  security  created  for 
such  underlying  securities  by  the  mortgage  or  other  instrument 
securing  the  same;  but  all  interest  maturing  upon  any  such 
deposited  underlying  securities  prior  to  any  such  default  shall 
be  deemed  to  have  been  paid  and  satisfied. 


148 


See  page  128. 


Right  of  Trus 
tee  in  case  of 
default. 


Company  is 
entitled  only 
to  income 
from  current 
operations. 


See  page  154. 


(b)  The  Trustee,  upon  the  request  of  the  Company,  from  time 
to  time,  shall  deliver  to  the  Company,  except  as  provided  in  sub¬ 
division  (a)  of  this  Section,  any  coupons  for  such  interest 
then  in  its  possession,  and  suitable  assignments  and  orders  for 
the  payment  to  the  Company  of  all  such  interest,  and  shall  pay 
over  to  the  Company  any  such  interest  which  may  be  collected  or 
received  by  the  Trustee;  and  the  Company  shall  have  the  right  to 
collect  (but  not  by  any  proceeding  which  the  Trustee  shall  deem 
prejudicial  to  the  trusts  hereunder)  any  such  coupons  or  interest. 

In  case  an  event  of  default,  as  defined  in  Section  2  of  Article  VI 
hereof,  shall  occur  and  shall  be  continuing,  the  Trustee  may  thereupon 
demand  and  enforce  payment  of  all  sums  due,  whether  for  interest  or 
principal,  and  may  take  such  action  as  shall,  in  its  judgment,  be  desirable 
or  necessary  to  avail  of  the  security  created,  for  all  securities  then  held 
by  the  Trustee,  by  the  mortgages  or  other  instruments  securing  the  same. 

The  Company  shall  not  be  entitled  to  receive,  and  the  Trustee  shall 
not  pay  over  to  the  Company  or  deliver  to  the  Company  any  coupons, 
assignments  or  orders  for  the  payment  of  (a)  the  principal  of  any  bond 
or  obligation  or  indebtedness  subject  to  this  Indenture,  or  (b)  any  inter¬ 
est  which  shall  have  been  collected  or  paid  otherwise  than  out  of  rents, 
revenues,  income  or  proceeds  of  current  operations.  Any  monies  to  which 
the  Company  shall  not  be  entitled  under  the  provisions  of  this  Article  IX 
shall  be  paid  to  and  received  by  the  Trustee,  and  be  by  it  held,  paid  out 
or  applied  under  the  provisions  of  Section  5  of  Article  X  hereof. 

The  Trustee  shall  be  entitled  to  assume,  without  any  investigation 
on  its  part,  until  notified  to  the  contrary  by  the  holders  of  at  least  fifteen 
per  cent.  (15%)  in  principal  amount  of  the  bonds  hereby  secured  at 
the  time  outstanding,  that  all  interest  received  by  it  is  paid  out  of  rents, 
revenues,  income  or  proceeds  of  current  operations. 

The  Company  shall  not  sell,  assign  or  transfer  any  coupons  or  right 
to  interest  delivered  or  assigned  to  it  hereunder,  except  in  such  manner 


149 


that  the  same  shall  remain  at  all  times  subject  to  this  Indenture,  and 
until  actually  paid,  released  or  discharged  every  such  coupon  or  right  to 
interest  shall  remain  subject  to  the  lien  of  this  Indenture. 

As  and  when  any  of  the  underlying  securities  at  the  time  held  by  the  Relemption 

of  underlying 

Trustee,  shall  be  called  by  lot  for  redemption,  out  of  any  sinking  fund  securities, 
created  for  such  purpose  or  otherwise,  the  Trustee  shall,  upon  receipt 
of  the  redemption  price  thereof,  surrender  the  same  to  the  trustee  under 
the  mortgage  or  other  instrument  securing  the  same.  All  moneys  so 
received  by  the  Trustee  shall  be  held  by  the  Trustee  and  paid  out,  from 
time  to  time,  in  accordance  with  the  provisions  of  Sectiou  5  of  Article  X  See  page  154. 
hereof.  Any  such  underlying  securities  so  surrendered  shall  be  redeliv¬ 
ered  by  the  Company  to  the  Trustee  hereunder,  cancelled  or  uncancelled, 
as  and  when  the  same  are  received  by  the  Company,  and  no  additional 
bonds  hereby  secured  shall  be  authenticated  and  delivered  in  respect 
thereof  under  any  provision  of  this  Indenture. 


ARTICLE  X. 

Concerning  the  Trust  Estate. 

Section  1.  The  Company,  while  not  in  default  hereunder,  shall  be  while  not 
suffered  and  permitted  to  retain  actual  possession  of  the  trust  estate  °e°iUnapos™ay 
(other  than  securities  and  cash  at  the  time  held  by  the  Trustee  under  trust  estate, 
this  Indenture),  and  to  manage,  operate  and  use  the  same  and  every 
part  thereof,  with  the  rights  and  franchises  appertaining  thereto,  and 
to  collect,  receive,  take,  use  and  enjoy  the  tolls,  earnings,  income,  rents, 
issues  and  profits  thereof,  with  power  in  the  ordinary  course  and  con¬ 
duct  of  business  to  use  and  consume  supplies  and  deal  with  contracts 
and  choses  in  action ;  and  to  alter,  repair,  replace,  change  the  location 
or  position  of  and  add  to  its  plants,  buildings,  structures,  systems, 
machinery  and  other  fixtures,  equipment  and  appurtenances. 

The  Company,  while  not  in  default  hereunder,  from  time  to  time  company  may 

.  .  make  changes 

may  abandon,  terminate,  release  or  make  changes  or  alterations  in,  or  in  leases, 
substitutions  of,  any  leases,  grants,  agreements  or  contracts,  or  any  frail- 


150 


May  sell 
worn-out 
equipment, 
supplies,  etc. 


Conditions  of 
surrender  or 
modification 
of  any  electric 
light  and 
power  or 
street  rail¬ 
way  franchise. 


chise  under  which  it  operates  any  of  its  hot  water  properties,  at  any  time 
subject  to  this  Indenture,  but  nothing  in  this  Section  contained  shall 
be  construed  as  giving  to  the  Company  power  to  make  any  leases  of 
or  to  grant  rights  upon  or  in  respect  to  the  trust  estate  or  to  enter  into 
any  contract  affecting  the  same  except  subject  to  the  prior  lien  of  this 
Indenture;  provided,  however,  that  the  Company  shall  not  abandon, 
terminate,  release  or  make  changes  or  alterations  in  or  substitutions  of 
any  leases,  grants,  agreements  or  contracts  which  will  impair  the  sub¬ 
stantial  integrity  or  efficiency  of  its  plants  and  systems. 

Section  2.  The  Company  while  not  in  default  hereunder  shall  have 
full  power,  from  time  to  time,  in  its  discretion,  without  any  action  by  or 
notice  to  the  Trustee,  to  sell,  exchange  or  otherwise  dispose  of,  free  from 
the  lien  hereof  (a)  any  of  its  equipment,  machinery,  fixtures,  apparatus, 
appliances,  tools,  implements  or  other  chattels  at  any  time  subject  to 
the  lien  hereof,  which  may  have  become  worn  out  or  unserviceable,  dis¬ 
used,  undesirable  or  unnecessary  for  use  in  the  conduct  of  its  business, 
replacing  the  same  by  other  property  of  equal  value  to  the  Company, 
which  shall  forthwith  become,  without  further  action,  subject  to  the 
lien  of  this  Indenture  and  ( b )  any  materials,  merchandise  and  supplies 
in  the  ordinary  course  and  conduct  of  its  business;  and  no  purchaser 
thereof  shall  be  bound  to  inquire  into  any  question  of  fact  or  law  affect¬ 
ing  the  right  of  the  Company  to  sell,  exchange  or  otherwise  dispose  of 
the  same  free  from  the  lien  of  this  Indenture  and  without  any  release 
from,  action  by  or  notice  to,  the  Trustee. 

Section  3.  The  Company  may  at  any  time  and  from  time  to  time, 
with  the  consent  of  the  Trustee,  surrender  or  assent  to  or  procure  a 
modification  of  any  franchise  under  which  it  operates  any  of  its 
electric  light  and  power  properties  or  any  of  its  street  railway 
properties,  which  it  may  now  or  hereafter  hold,  or  under  which 
it  may  now  or  hereafter  operate,  and  the  Trustee  shall  give  such 
consent  upon  the  receipt  of  an  opinion  of  counsel  selected  by  the 


151 


Company  and  acceptable  to  the  Trustee,  who  may  be  counsel  for  the 
Company,  (a)  in  the  event  of  any  such  surrender,  that  the  Company  has 
received  in  exchange  a  new  franchise,  or  has  the  right  under  some  other 
franchise,  then  subject  to  the  lien  of  this  Indenture  and  free  from  any 
lien  prior  thereto  (except  underlying  mortgages  and  current  taxes), 
authorizing  it  to  do  the  same  or  an  extended  business  in  the  same  or 
an  extended  territory  during  the  same  or  an  extended  period  of  time, 
or  that  such  franchise  is  no  longer  necessary  for  the  operations  of 
the  Company,  or  (5)  in  the  event  of  any  such  modification,  that  the 
franchise  as  modified  authorizes  the  continuance  of  the  same  or  an 
extended  business  in  the  same  or  an  extended  territory  during  the  same 
or  an  extended  period  of  time,  or  that  the  franchise,  as  modified,  will  be 
sufficient  for  the  operations  of  the  Company.  The  Trustee  may  in  its  dis¬ 
cretion  give  such  consent  without  receiving  such  opinion  in  any  case  when 
such  surrender  or  modification  will,  in  the  opinion  of  the  Company,  to  be 
signified  by  an  appropriate  resolution  of  its  Board  of  Directors,  be 
advantageous  to  it,  and  in  the  opinion  of  the  Trustee,  not  injurious  to 
the  bondholders. 

Section  4.  The  Company  may  at  any  time  and  from  time  to  time 
sell  or  exchange,  free  from  the  lien  and  operation  of  this  Indenture,  any 
other  property  or  premises  constituting  part  of  the  trust  estate  (except 
underlying  securities)  upon  the  terms  and  conditions  and  subject  to  the 
restrictions  in  this  Section  contained,  and  the  Trustee  shall  release  the 
same  from  the  lien  and  operation  of  this  Indenture,  upon  the  receipt  of : 

A.  A  copy  of  a  resolution  duly  adopted  by  vote  of  a  majority  of  all 
the  Board  of  Directors  of  the  Company,  certified  under  its  corporate  seal 
by  its  Secretary  or  Assistant- Secretary,  authorizing  the  sale  or  exchange 
of  the  property  or  premises  to  be  released  and  requesting  the  release 
thereof  free  from  the  lien  and  operation  hereof. 

B.  A  certificate  (or  certificates)  signed  by  the  President  or  a  Vice- 
President  of  the  Company,  and  by  its  Treasurer  or  an  Assistant  Treasurer, 


Conditions 
of  sale 
or  exchange 
of  other 
property. 


Resolution 
of  Directors 
authorizing 
sale  or  ex¬ 
change. 


Certificate 
of  officers. 


152 


See  page  87. 


Certificate  of 
engineer  or 
other  expert. 


stating  that  the  Company  has  sold  or  exchanged  the  property  or  premises 
to  he  released,  or  has  contracted  so  to  do;  and  setting  forth  a  brief 
description  of  the  same;  the  amount  or  value  of  the  consideration  to  be 
received  therefor,  which  may  be  either  property  or  cash  or  part  property 
and  part  cash  or  part  obligations  secured  by  purchase  money  lien  upon 
the  premises  to  be  released ;  that  the  amount  or  value  of  the  consideration 
is  not  less  than  the  fair  and  reasonable  value  to  the  Company  of  the 
property  or  premises  to  be  released  ;  a  description  and  the  fair  and  reason¬ 
able  value  to  the  Company  of  the  property,  if  any,  to  be  received  as 
consideration  in  whole  or  in  part;  and  that  any  such  property  so  to  be 
received  as  consideration  in  whole  or  in  part,  is  property  of  the  character 
in  respect  whereof  bonds  may  be  authenticated  and  delivered  under  the 
provisions  of  Section  4  of  Article  II  hereof ;  and,  that  the  substantial 
integrity  and  efficiency  of  the  plants  and  the  systems  of  the  Company 
will  not  be  impaired  by  such  release  or  that  the  property  or  premises 
to  be  released  are  no  longer  necessary  or  advantageous  in  the  business 
of  the  Company,  or  that  the  sale  or  disposition  thereof  has  become 
necessary,  expedient  or  advisable  for  reasons  therein  set  forth.  If  the 
amount  or  value  of  the  consideration  is  less  than  the  fair  and  reasonable 
value  to  the  Company  of  the  property  or  premises  to  be  released,  the 
certificate  shall  so  state,  and  in  such  case  the  difference  shall  be  paid 
in  money  to  the  Trustee  or  to  the  trustee  or  mortgagee  of  a  lien  prior 
to  this  Indenture  on  the  property  so  to  be  released. 

C.  A  certificate  signed  by  an  engineer  or  other  expert  (who  may  be 
in  the  employ  of  the  Company)  selected  or  appointed  by  the  Company 
and  acceptable  to  the  Trustee,  stating  the  fair  and  reasonable  value  to 
the  Company  of  the  property  or  premises  (briefly  describing  the  same) 
to  be  released,  and  if  the  consideration  to  the  Company  consists  of  prop¬ 
erty,  in  whole  or  in  part,  the  fair  and  reasonable  value  to  the  Company 
of  such  property.  This  certificate  shall  not  be  required,  if  the  amount 
or  value  of  the  consideration  to  the  Company,  as  specified  in  the  certificate 
provided  for  in  the  preceding  Clause  B,  shall  be  less  than  $10,000. 


153 


D.  In  case  the  consideration  to  the  Company  consists  of  property  when  the 

consideration 

in  whole  or  in  part— the  instruments  provided  for  in  Clauses  B,  C,  E  consists  of 
and  F  of  Section  6  of  Article  II  hereof,  with  such  omissions,  variations  bl;'Gpage06- 
and  insertions  as  may  be  appropriate.  The  instruments  provided  for  in 
Clauses  B  and  C  of  said  Section  6  shall  not  be  required,  if  the  amount 
or  value  of  the  consideration  to  the  Company,  as  specified  in  the  certificate 
provided  for  in  the  preceding  Clause  B  of  this  Section  4  of  Article  X 
shall  be  less  than  $10,000. 

E.  An  opinion  or  opinions  of  one  or  more  counsel  selected  by  the  opinion  of 

counsel. 

Company  and  acceptable  to  the  Trustee,  who  may  be  counsel  for  the 
Company,  stating  that  the  instruments  to  be  furnished  the  Trustee  con¬ 
stitute  sufficient  authority  to  it  to  execute  and  deliver  the  release  applied 
for  and  that  any  obligations  included  in  the  consideration  to  the  Com¬ 
pany  mentioned  in  the  certificate  provided  for  in  clause  B  of  this  Sec¬ 
tion  4  are  valid  obligations,  secured  by  a  valid  purchase  money  lien  upon 
the  premises  to  be  released. 


F.  Unless  some  other  disposition  be  required  by  some  lien  prior  to 
this  Indenture  on  the  property  to  be  released,  the  cash  consideration  of 
any  such  sale  or  other  disposition,  and  any  purchase  money  obligation 
forming  part  of  such  consideration  shall  be  paid  or  delivered  to  the 
Trustee. 

Should  any  part  of  the  trust  estate  be  taken  by  the  exercise  of  the 
power  of  eminent  domain,  or  should  any  governmental  body  at  any  time 
exercise  any  power  which  it  may  have  to  purchase  any  part  of  the  trust 
estate,  the  Trustee  may  release  the  property  so  taken  or  purchased  and 
shall  be  fully  protected  in  so  doing  upon  being  furnished  with  an  opinion 
of  counsel  selected  by  the  Company  and  acceptable  to  the  Trustee,  who 
may  be  counsel  for  the  Company,  to  the  effect  that  such  property  has 
been  taken  by  exercise  of  the  power  of  eminent  domain  or  purchased  by 
a  governmental  body  in  the  exercise  of  a  power  which  it  had  to  purchase 
the  same;  and  unless  some  other  disposition  be  required  by  some  lien 


Consideration 
to  be  paid  or 
delivered  to 
Trustee. 


Trustee  may 
release  prop¬ 
erty  taken  by 
eminent 
domain. 


154 


Purchaser 
not  bound  to 
inquire  into 
authority  of 
Trustee  or 
see  to  appli¬ 
cation  of 
consideration. 


Application 
of  money 
received  by 
Trustee. 


See  page  106. 


See  page  87. 


prior  to  this  Indenture  on  the  property  so  to  be  released,  all  moneys 
received  as  compensation  for  any  part  of  the  trust  estate  so  taken  or 
purchased  shall  be  paid  to  the  Trustee. 

In  no  event  shall  any  purchaser  or  purchasers  of  any  property  or 
premises  sold,  exchanged  or  disposed  of  under  any  provision  of  this 
Article  X,  be  bound  to  inquire  into  the  authority  of  the  Trustee  to  release 
the  same,  or  into  any  question  of  law  or  fact  affecting  the  power  of  the 
Trustee  so  to  do,  nor  be  bound  to  see  to  or  be  responsible  for  the  applica¬ 
tion  of  the  consideration  therefor. 

Section  5.  All  money  which  the  Trustee  shall  receive  as  considera¬ 
tion  or  otherwise  for  property  or  premises  released  from  the  lien  of  this 
Indenture,  including  the  principal  of  any  purchase  money  obligation 
forming  part  of  such  consideration  when  paid,  and  all  moneys  received 
by  the  Trustee  as  compensation  for  any  property  subject  to  the  lien 
hereof  taken  by  the  exercise  of  the  power  of  eminent,  domain  or  of  any 
power  to  purchase,  as  aforesaid,  and  all  insurance  moneys  received  by 
the  Trustee,  and  all  other  moneys  received  by  the  Trustee  for  which 
specific  provision  is  not  made  elsewhere  in  this  Indenture,  shall,  at  the 
request  and  election  of  the  Company,  either 

(a)  Be  applied  to  the  redemption,  retirement  or  purchase  of 
bonds  hereby  secured  pursuant  to  the  provisions  of  Article  III 
hereof,  or  to  the  payment  thereof;  or 

(b)  Be  paid  over  to  the  Company  from  time  to  time  when¬ 
ever  the  Company  shall  be  or  become  entitled  to  the  authentication 
and  delivery  of  bonds  under  the  provisions  of  Section  4  of  Article 
II  hereof,  upon  receipt  by  the  Trustee  of  substantially  the  same  evi¬ 
dence  as  is  required  by  Article  II  for  the  authentication  of  bonds, 
in  so  far  as  such  evidence  is  applicable,  with  such  omissions,  varia¬ 
tions  and  insertions  as  may  be  appropriate;  except  that  such  evi¬ 
dence  shall  not  include  any  certificate  in  regard  to  net  earnings  of 
the  Company ;  and  provided  that  the  amount  of  cash  to  be  paid  on 


155 


the  production  of  such  evidence  shall  equal  100%  of  the  expendi¬ 
tures  made  for  such  purpose;  or 

(c)  Be  paid  over  to  the  Company  for  the  purpose  of  repairing, 
restoring  or  replacing  property  damaged  or  destroyed  by  fire 
and/or  boiler  explosion  (to  the  extent  that  insurance  moneys 
arising  from  such  loss  are  in  the  hands  of  the  Trustee),  upon 
receipt  of  a  certificate  signed  by  the  President  or  a  Vice-President 
of  the  Company,  and  by  its  Treasurer  or  an  Assistant  Treasurer, 
showing  expenditures  made  for  such  purpose,  but  not  to  exceed 
the  cash  cost  or  fair  value  to  the  Company,  whichever  is  less,  of 
such  repairs,  restoration  or  replacements.  After  any  such  prop¬ 
erty  shall  be  fully  repaired,  restored  or  replaced  and  the  expenses 
thereof  shall  be  fully  paid,  the  Trustee,  upon  receipt  of  a  cer¬ 
tificate  similarly  signed  to  that  effect,  shall  pay  over  to  the  Com¬ 
pany  the  balance  of  any  such  insurance  moneys  remaining  in  its 
hands. 

In  case  the  amount  so  received  by  the  Trustee  shall  at  any  time  be 
less  than  $10,000,  the  same,  upon  the  written  request  of  the  Company, 
may  forthwith  be  paid  over  by  the  Trustee  to  the  Company  in  advance 
of  the  application  thereof  as  provided  in  clauses  (a),  (b)  and.  (c)  of 
this  Section,  and  without  the  production  of  the  evidence  therein  pro¬ 
vided,  but  in  no  event  shall  the  aggregate  amount  of  any  sums  so  paid 
over  to  the  Company  in  advance  of  such  application  and  without  the 
production  of  such  evidence  exceed  in  any  twelve  months’  period  the 
sum  of  fifty  thousand  dollars  ($50,000)  ;  and  the  Company  covenants 
and  agrees  that  it  will  expend  for  the  purposes  mentioned  in  clauses  ( a ), 
(b)  and  (c)  of  this  Section  any  sums  so  paid  over  to  it  in  advance 
of  such  application  and  without  the  production  of  such  evidence,  and  that 
it  will  within  twelve  months  after  the  receipt  of  the  same  deliver  to  the 
Trustee  a  certificate  under  its  corporate  seal,  signed  by  its  President  or 
Treasurer  or  by  its  Vice-President  or  an  Assistant  Treasurer,  setting 
forth  the  expenditures  so  made. 


156 


Interest  on 
funds  held 
by  Trustee. 


Any  such 
funds  held  by 
the  Trustee 
to  be  dealt 
with  as  part 
of  proceeds 
of  sale  if 
trust  estate 
is  sold. 


Receiver  or 
trustee  in 
possession 
may  exercise 
powers. 


Required 
evidence 
sufficient 
authority 
for  Trustee. 


Any  property  acquired  with  any  money  paid  to  the  Company  under 
the  provisions  of  subdivision  (b)  or  subdivision  (c)  hereof  shall  not  be 
used  as  the  basis  for  the  authentication  and  delivery  of  bonds  under  any 
provision  of  this  Indenture. 

Unless  and  until  so  paid  out  or  applied  by  the  Trustee,  the  Trustee 
shall  hold  any  money  received  by  it  under  the  provisions  of  this  Sec¬ 
tion  5  as  part  of  the  trust  estate,  and  it  shall  allow  and  pay  to  the  Com¬ 
pany  interest  thereon  at  such  rate  as  may  be  agreed  upon  between  the 
Trustee  and  the  Company. 

In  case  the  trust  estate  shall  be  sold,  either  under  the  power  of  sale 
herein  provided,  or  under  a  decree  of  court  in  a  suit  for 'foreclosure  of 
this  Indenture,  any  funds  then  held  by  the  Trustee  under  the  provisions  of 
this  Article  X  shall  be  added  to  and  dealt  with  as  if  they  were  part  of 
the  proceeds  of  sale. 

Section  6.  In  case  the  trust  estate  shall  be  in  the  possession  of  a 
receiver  lawfully  appointed,  the  powers  in  and  by  this  Article  conferred 
upon  the  Company  may  be  exercised  by  such  receiver  with  the  approval 
of  the  Trustee,  and  if  the  Trustee  shall  be  in  possession  of  the  trust 
estate  under  any  provision  of  this  Indenture,  then  all  the  powers  in  this 
Article  conferred  upon  the  Company  may  be  exercised  by  the  Trustee 
in  its  discretion. 

Section  7.  The  resolutions,  certificates,  opinions  and  other  instru¬ 
ments  specified  in  this  Article  X  shall  in  any  and  all  cases  be  sufficient 
authority  to  the  Trustee  for  the  action  provided  in  this  Article  to  be 
taken  by  the  Trustee,  and  in  relying  thereon,  without  other  evidence, 
the  Trustee  shall  be  fully  protected;  but  the  Trustee  may,  if  it  shall 
deem  it  wise,  and  if  requested  by  the  holders  of  not  less  than  fifteen 
per  cent.  (15%)  in  principal  amount  of  the  bonds  hereby  secured  at  the 
time  outstanding  and  if  furnished  with  adequate  security  and  indemnity 
against  its  costs  and  expenses  shall,  make  such  further  inquiries  or 
investigations,  or  require  such  further  evidence,  as  it  may  deem  proper, 


157 


and  if  it  shall  not  be  satisfied  from  such  investigation  of  the  propriety  of 
such  action,  the  Trustee  may  refuse  in  its  absolute  discretion  to  take 
such  action  or  allow  it. 


ARTICLE  XI. 

Defeasance. 

Section  1.  If,  when  the  bonds  hereby  secured  shall  have  become  due  gatisfaction  of 
and  payable,  the  Company,  its  successors  or  assigns,  shall  well  and  truly thls  Indenture- 
pay  or  cause  to  be  paid  the  whole  amount  of  the  principal  and 
interest  (and  premium,  if  any)  due  on  all  of  the  bonds  and  coupons  for 
interest  thereon,  hereby  secured  and  then  outstanding,  or  shall  provide 
for  such  payment  by  depositing  with  the  Trustee  the  entire  amount  due 
and  to  become  due  and  payable  thereon  for  principal  and  interest  (and 
premium,  if  any),  and  shall  also  pay  or  cause  to  be  paid  all  other  sums 
payable  hereunder  by  the  Company,  and  shall  well  and  truly  keep  and 
perform  all  the  covenants  and  conditions  herein  required  to  be  kept  and 
performed  by  the  Company  according  to  the  true  intent  and  meaning 
of  this  Indenture,  then  and  in  that  case  the  trust  estate  shall  revert  to 
the  Company,  and  the  entire  estate,  right,  title  and  interest  of  the  Trustee 
and  of  the  bondholders  shall  thereupon  cease,  determine  and  become 
void ;  and  in  that  case  also,  the  Trustee,  on  demand  of  the  Company  and 
at  its  cost  and  expense,  shall  assign  or  cause  to  be  assigned  and  shall 
deliver  to  the  Company  or  upon  its  written  order,  all  securities  and 
moneys  (other  than  the  moneys  deposited  as  hereinabove  provided)  then 
held  by  the  Trustee  under  this  Indenture,  and  shall  execute  and  acknowl¬ 
edge,  and  deliver  to  the  Company,  appropriate  and  proper  instruments 
acknowledging  satisfaction  of  this  Indenture  and  reconveying  the  trust 
estate  to  the  Company ;  otherwise  the  same  shall  be,  continue  and  remain 
in  full  force  and  virtue. 

Section  2.  In  the  event  that  any  bond  of  any  series  hereby  secured  posited  with 

Trustee  to 

shall  not  be  presented  for  payment  when  the  principal  thereof  becomes  p^y  prmdpai 
due,  either  at  maturity  or  otherwise,  and  the  Company  has  deposited  with otthebonds- 


158 


Conditions 
of  acceptance 
of  trust. 


Trustee  is 
not  obliged 
to  do  certain 
things. 


the  Trustee,  or  left  with  it  if  previously  deposited,  a  sum  equal  to  the 
principal  amount  of  all  the  bonds  of  such  series  then  outstanding  and 
secured  thereby,  together  with  all  interest  (and  premium,  if  any),  due 
thereon,  for  the  use  and  benefit  of  the  holder  or  holders  thereof,  respect¬ 
ively,  interest  on  said  bond  or  bonds  and  all  liability  of  the  Company  to 
the  holders  of  said  bonds  on  account  of  the  principal  and  interest  thereof 
(and  premium,  if  any),  shall  forthwith  cease,  determine  and  be  com¬ 
pletely  discharged,  and  thereupon  it  shall  be  the  duty  of  the  Trustee 
to  hold  said  fund  or  funds  for  the  benefit  of  the  holder  or  holders  of 
such  outstanding  bonds,  who  shall  thereafter  be  restricted  exclusively 
to  said  fund  or  funds  for  any  claim  of  whatsoever  nature  on  their  part 
under  this  Indenture  or  on,  or  with  respect  to.  said  bonds  or  any  cou¬ 
pons  appertaing  thereto. 

The  Trustee  shall  allow  and  pay  to  the  Company  interest  upon  such 
funds  at  such  rate  as  may  be  agreed  upon  by  the  Trustee  and  the  Com¬ 
pany. 


ARTICLE  XII. 

The  Trustee. 

Section  1.  The  Trustee  hereby  accepts  the  trusts  of  this  Indenture 
and  agrees  to  execute  them  upon  the  following  terms  and  conditions,  to 
which  the  parties  and  the  holders  of  the  bonds  hereby  secured  agree: 

(u)  The  Trustee  shall  be  under  no  obligation  to  see  to  the 
filing,  registration  or  recording  of  this  Indenture  or  of  any 
instrument  given  pursuant  to  the  provisions  of  this  Indenture,  or 
to  the  re-filing,  re-registration  or  re-recording  thereof,  or  to  procure 
any  further  or  other  deeds  or  instruments  of  further  assurance; 
nor  shall  the  Trustee  be  obligated,  while  not  in  possession  of  the 
trust  estate,  to  see  to  the  insurance  of  the  trust  estate,  or  to  the 
payment  of  taxes  and  assessments  thereon  or  upon  the  income 
and  profits  thereof,  or  to  the  performance  or  observance  of  any  of 
the  covenants  or  agreements  hereof  on  the  part  of  the  Company. 


X 


159 


The  Trustee  shall  not  be  personally  liable  for  any  debt  contracted 
by  it,  or  for  damages  to  persons  or  property,  or  for  salaries  or 
non-payment  of  salaries,  or  for  non-fulfilment  of  contracts,  during 
any  period  wherein  the  Trustee  shall  manage  the  property  of  the 
Company  or  any  part  thereof  as  herein  authorized. 

(b)  The  Trustee  shall  not  be  responsible  in  any  manner 
whatsoever  for,  or  in  respect  of,  the  validity  or  sufficiency  of  this 
Indenture,  the  due  execution  hereof  by  the  Company,  the  lien 
purported  or  intended  to  be  hereby  created,  the  security  intended 
to  be  afforded  hereby,  the  validity  hereof  or  of  the  bonds  or 
coupons  issued  hereunder  or  of  any  bonds  deposited  hereunder, 
the  title  or  value  of  the  trust  estate,  nor  for  or  in  respect  of  the 
recitals  contained  herein  or  in  the  bonds  as  to  the  acts  or  powers 
of  the  Company  or  otherwise,  all  of  which  recitals  are  made  by 
the  Company  solely. 

(c)  The  Trustee  may  employ  agents,  attorneys  in  fact, 
appraisers,  engineers  and  accountants,  whose  compensation  and 
reasonable  expenditures  shall  be  deemed  part  of  the  expenses  of 
the  Trustee;  and  shall  not  be  answerable  or  accountable  for  the 
default,  neglect  or  misconduct  of  any  agent,  attorney,  engineer 
or  counsel  appointed  by  it  in  pursuance  hereof,  if  reasonable  care 
has  been  exercised  in  the  appointment  and  retention  of  such 
agent,  attorney,  engineer  or  counsel;  nor  for  anything  whatever 
in  connection  with  this  trust  except  its  own  wilful  misconduct 
or  gross  negligence. 

(d)  The  Trustee  may  advise  with  legal  counsel  (who  may 
be  counsel  for  the  Company)  to  be  selected  and  employed  by  it  at 
the  expense  of  the  Company,  and  shall  be  fully  protected  in  respect 
of  any  action  under  this  Indenture  taken  or  suffered  in  good  faith 
by  the  Trustee  in  accordance  with  the  opinion  of  counsel,  and  such 
action  so  taken  or  suffered  shall  be  conclusive  on  all  holders  of 
bonds  hereby  secured. 


Trustee  is 
not  respon¬ 
sible  for 
validity  of 
Indenture 
or  bonds  or 
for  the  recitals 
therein. 


Trustee  may 
employ 
agents,  but 
is  not  respon¬ 
sible  for  acts 
if  reasonable 
care  is  exer¬ 
cised  in 
appointment 
thereof. 


Trustee  may 
advise  with 
counsel. 


1G0 


Trustee  may 
rely  on  in¬ 
struments 
furnished 
to  it. 


i 


Trustee  may 
rely  on  certifi¬ 
cate  of  officers 
as  evidence  of 
facts,  the 
proof  of  which 
is  not  speci¬ 
fically  pro¬ 
vided  for. 


(c)  The  Trustee  shall  he  fully  protected  in  acting  upon  or  in 
accordance  with  any  request,  demand,  order,  notice,  waiver, 
appointment,  designation,  consent,  certificate,  affidavit,  statement, 
opinion,  bond,  coupon  or  other  instrument  or  paper  believed  by  it 
to  be  genuine  and  to  have  been  signed,  made,  or  presented  by  the 
proper  party  or  parties.  Except  when  otherwise  in  this  Indenture 
expressly  provided,  any  order,  notice,  request,  consent,  approval, 
selection,  appointment,  election,  direction,  option  or  other  instru¬ 
ment  to  be  delivered  or  furnished  by  the  Company  to  the  Trustee, 
shall  be  sufficiently  executed,  if  executed  in  the  name  of  the 
Company,  under  its  corporate  seal,  by  its  President  or  a  Vice- 
President  and  by  its  Treasurer  or  an  Assistant  Treasurer,  or  by 
such  officer  or  officers  as  the  Board  of  Directors  of  the  Company 
may  by  resolution  direct.  The  Trustee  may  accept  a  certificate 
of  the  Secretary  or  Assistant  Secretary  of  the  Company  under 
its  corporate  seal,  to  the  effect  that  a  resolution  in  the  form  therein 
set  forth  has  been  duly  adopted  by  the  Board  of  Directors  of  the 
Company,  as  conclusive  evidence  that  said  resolution  has  been 
duly  adopted  and  is  in  full  force  and  effect. 

(/)  As  to  the  existence  or  non-existence  of  any  fact  or  as  to 
the  sufficiency  or  validity  of  any  instrument,  paper  or  proceeding, 
the  Trustee  shall  be  entitled  to  rely  upon  a  certificate  of  the  Com¬ 
pany,  under  its  corporate  seal,  signed  by  its  President  or  a  Vice- 
President  and  by  its  Treasurer  or  an  Assistant  Treasurer,  as  suffi¬ 
cient  and  conclusive  evidence  of  the  facts  therein  stated,  unless 
other  evidence  is  specifically  required  herein;  and  shall  also  be 
at  liberty  to  accept  and  rely  upon  a  similar  certificate  to  the  effect 
that  any  particular  dealing,  transaction  or  action  is  necessary  or 
expedient,  but  may  in  its  discretion  at  the  reasonable  expense  of 
the  Company,  in  every  case,  require  such  further  evidence  as  it 
may  think  necessary  or  advisable,  but  it  shall  in  no  case  be  bound 
to  require  the  same;  provided,  however,  that  the  Trustee  shall 


1G1 


make  such  investigation  as  may  be  proper  under  the  circumstances, 
if  requested  so  to  do  in  writing  by  the  holders  of  not  less  than 
fifteen  per  cent.  (15%)  in  principal  amount  of  the  bonds  hereby 
secured  at  the  time  outstanding,  and  if  furnished  with  adequate 
security  and  indemnity  against  the  costs  and  expenses  of  such 
examination. 


( g )  The  Trustee  shall  be  entitled  to  reasonable  compensation 
from  the  Company  for  all  services  rendered  by  it  in  the  execution 
of  the  trusts  hereby  created,  and  shall  be  reimbursed  by  the 
Company  for  any  expenditures  made  by  the  Trustee  on  account  of 
any  provisions  or  requirements  hereof,  and  for  any  liability  or 
damages  which  the  Trustee,  acting  in  good  faith,  may  incur  or 
sustain ;  and  such  compensation  and  expenditures,  as  well  as  all 
of  its  reasonable  expenses,  including  the  compensation  and  rea¬ 
sonable  expenditures  of  agents,  attorneys  in  fact,  appraisers, 
engineers  and  accountants,  and  the  fees  and  expenditures  of  legal 
counsel,  incurred  or  actually  disbursed,  and  any  and  all  sums 
advanced  or  paid  out  by  the  Trustee  out  of  its  own  funds  or 
funds  advanced  by  bondholders  under  the  provisions  of  this  Inden¬ 
ture,  shall  be  paid  by  the  Company  to  the  Trustee  upon  the  latter’s 
demand,  with  interest  thereon  at  the  rate  of  six  per  centum  per 
annum  from  the  date  of  such  demand,  and  until  so  demanded  and 
paid  shall  be  secured  by  a  lien  under  and  by  virtue  of  this  Inden¬ 
ture  upon  the  trust  estate,  in  preference  to  the  bonds  hereby 
secured. 


Trustee  shall 
be  entitled 
to  reasonable 
compensa¬ 
tion  and 
reimburse¬ 
ment  for 
expenditures 
and  to  a 
prior  lien  for 
payment 
thereof. 


(h)  The  Trustee  shall  not  be  under  any  obligation  to  take  Trustee  is 

not  obliged 

any  action  toward  the  execution  or  enforcement  of  any  of  the  [ruT/uniess 

requested  by 

trusts  hereby  created  or  in  respect  of  any  default,  which,  in  its  holders  of 

not  less  than 

opinion,  would  be  likely  to  involve  it  in  expense  or  liability,  unless  250/0  of  bonds- 
and  until  the  holders  of  not  less  than  twenty-five  per  cent.  (25%) 
in  principal  amount  of  the  bonds  at  the  time  outstanding  shall  in 
writing  request  it  to  take  such  action,  and  shall,  as  often  as 


162 


Trustee  may 
assume  that 
there  is  no 
default 
unless  notice 
is  given  by 
holders  of 
10%  of 
bonds. 


Trustee 
may  request 
inspection  of 
bonds  and 
establishment 
of  title 
thereto. 


Trustee  is 
not  account¬ 
able  for  use  of 
bonds  or 
proceeds. 


Trustee  may 
acquire  and 
hold  bonds 
or  underlying 
securities. 


required  by  the  Trustee,  furnish  it  reasonable  security  and  indem¬ 
nity  against  sucli  expense  or  liability. 

(i)  The  Trustee,  unless  and  until  it  shall  have  received 
notice  in  writing  of  the  same  from  the  holders  of  ten  per  cent.  ( 10% ) 
in  principal  amount  of  the  bonds  at  the  time  outstanding,  dis¬ 
tinctly  specifying  the  default  or  event  desired  to  be  brought  to 
the  attention  of  the  Trustee,  shall  not  be  required  to  take  notice 
of  any  default  hereunder  on  the  part  of  the  Company,  or  of  the 
appointment  of  a  receiver  of  the  Company  or  of  any  of  its  property, 
and  may,  for  all  the  purposes  of  this  Indenture,  except  as  afore¬ 
said,  assume  that  the  Company  is  not  in  default  under  this  Inden¬ 
ture,  and  that  none  of  the  events,  hereinbefore  denominated  events 
of  default,  has  happened,  and  that  no  such  receiver  has  been 
appointed. 

(j)  The  Trustee  shall  not  be  bound  to  recognize  any  person 
as  a  bondholder  unless  and  until,  if  required  by  the  Trustee,  his 
bond  is  submitted  to  the  Trustee  for  inspection  and  his  title  thereto 
satisfactorily  established  if  disputed.  Any  action  taken  by  the 
Trustee  pursuant  to  this  Indenture  upon  the  request  or  authority 
or  consent  of  any  person  who,  at  the  time  of  making  such  request 
or  giving  such  authority  or  consent  is  the  owner  of  any  bond 
secured  hereby,  shall  be  conclusive  and  binding  upon  all  future 
owners  of  the  same  bond  and  bonds  issued  in  exchange  or  sub¬ 
stitution  therefor. 

( k )  The  Trustee  shall  not  be  accountable  for  the  use  or 
application  by  the  Company  of  any  bonds  authenticated  and 
delivered  hereunder  or  of  the  proceeds  of  such  bonds,  or  for  the 
use  or  application  of  any  moneys  paid  over  by  it  in  accordance 
with  any  provision  of  this  Indenture. 

(?)  The  Trustee  may  acquire  and  be  the  holder  of  bonds 
secured  hereby  or  of  any  of  the  underlying  securities  with  the 


163 


same  rights  which  it  would  have  if  it  were  not  the  Trustee 
hereunder. 


ARTICLE  XIII. 

Resignation,  Removal  and  Substitution  of  Trustees. 

Section  1.  The  Trustee  or  any  successor  trustee  may  resign  and  be  J^uste?11 
discharged  from  the  trusts  created  by  this  Indenture  by  giving  to  the 
Company  notice  in  writing,  and  to  the  bondholders  notice  by  publication, 
of  such  resignation,  specifying  a  date  when  such  resignation  shall  take 
effect,  which  notice  shall  be  published  at  least  once  on  a  day  not  less 
than  thirty  days  nor  more  than  sixty  days  prior  to  the  date  so  specified 
in  one  daily  newspaper  of  general  circulation  published  in  the  Borough 
of  Manhattan,  City  and  State  of  New  York,  in  one  daily  newspaper  of 
general  circulation  published  in  the  City  of  Chicago,  Illinois,  and  in  one 
daily  newspaper  of  general  circulation  published  in  the  City  of  Colum¬ 
bus,  Ohio.  Such  resignation  shall  take  effect  on  the  day  specified  in  such 
notice,  unless  previously  a  successor  trustee  shall  have  been  appointed, 
either  by  the  bondholders  or  by  the  Company,  as  hereinafter  provided, 
in  which  event  such  resignation  shall  take  effect  immediately  upon  the 
appointment  of  such  successor  trustee. 

Section  2.  The  Trustee  or  any  successor  trustee,  may  be  removed  Removal  of 

^  Trustee. 

at  any  time  by  the  holders  of  a  majority  in  principal  amount  of  the 
bonds  hereby  secured  and  at  the  time  outstanding,  by  an  instrument  or 
concurrent  instruments  in  writing,  signed  in  duplicate  by  such  holders. 

One  copy  shall  be  filed  with  the  Company  and  the  other  with  the  Trustee 
for  the  time  being. 

Section  3.  In  case  at  any  time  the  Trustee  or  any  successor  trustee 
shall  resign,  or  shall  be  removed  or  be  dissolved  or  otherwise  shall  become  lrllstee' 
incapable  of  acting,  or  in  case  control  of  the  Trustee  or  of  any  successor 
trustee,  or  of  its  officers  shall  be  taken  over  by  any  public  officer  or 
officers,  a  successor  trustee  may  be  appointed  by  the  holders  of  a  majority 


164 


Vesting  of 
trust  estate 
in  successor. 


in  principal  amount  of  the  bonds  hereby  secured  and  at  the  time  out¬ 
standing,  by  an  instrument  or  concurrent  instruments  in  writing*  signed 
in  duplicate  by  such  holders,  and  filed,  one  copy  with  the  Company  and 
the  other  with  the  successor  trustee;  but  until  a  successor  trustee  shall 
be  so  appointed  by  the  bondholders  as  herein  authorized,  the  Company, 
by  an  instrument  in  writing,  executed  by  order  of  its  Board  of  Directors, 
may  in  any  such  case  appoint  a  successor  trustee.  After  any  such 
appointment  by  the  Company,  it  shall  forthwith  cause  notice  to  be  pub¬ 
lished  once  in  each  week  for  two  successive  weeks,  in  a  daily  newspaper 
of  general  circulation  published  in  the  Borough  of  Manhattan,  City  and 
State  of  New  York,  in  one  daily  newspaper  of  general  circulation  pub¬ 
lished  in  the  City  of  Chicago,  Illinois,  and  in  one  daily  newspaper  of  gen¬ 
eral  circulation  published  in  the  City  of  Columbus,  Ohio,  but  any  suc¬ 
cessor  trustee  appointed  by  the  Company  shall,  immediately  and  without 
further  act,  be  superseded  by  a  successor  trustee  appointed  by  the  bond¬ 
holders  in  the  manner  above  prescribed,  provided  that  such  appointment 
be  made  prior  to  the  expiration  of  one  year  from  the  date  of  the  first  pub¬ 
lication  of  such  notice  by  the  Company.  Every  such  successor  trustee 
appointed  by  the  bondholders  or  by  the  Company,  in  succession  to  the 
party  of  the  second  part  as  its  successor  in  the  trust  hereunder  shall 
always  be  a  trust  company  or  a  national  banking  association  in  good 
standing,  having  its  principal  office  in  the  Borough  of  Manhattan,  City 
and  State  of  New  York  or  in  the  City  of  Chicago,  Illinois,  and  having  a 
capital  and  surplus  aggregating  not  less  than  five  million  dollars,  if 
there  be  such  a  trust  company  or  national  banking  association  willing 
and  able  to  accept  the  trust  upon  reasonable  or  customary  terms. 

Section  4.  Any  successor  trustee  appointed  hereunder  shall  execute, 
acknowledge  and  deliver  to  the  Company,  an  appropriate  instrument  in 
writing  accepting  such  appointment  hereunder,  and  thereupon  such 
successor  trustee,  without  any  further  act,  deed  or  conveyance,  shall 
become  fully  vested  with  all  the  estates,  authority,  rights,  trusts,  powers, 


165 


duties  and  obligations  herein  provided  of  the  predecessor  trusteee  and  be 
entitled  to  the  immediate  delivery  by  the  predecessor  trustee  ceasing  to 
act,  of  any  part  of  the  trust  estate  in  the  hands  or  under  the  control  of 
such  predecessor  trustee,  and  all  the  estate,  right,  title  and  interest  of 
such  predecessor  trustee  in  the  trust  estate  shall  wholly  cease  and 
determine;  but  the  Trustee  ceasing  to  act,  shall  nevertheless,  on  the 
written  request  of  the  Company,  or  of  the  successor  trustee,  execute, 
acknowledge  and  deliver  an  appropriate  instrument  in  writing  trans¬ 
ferring  to  such  successor  trustee  upon  the  trusts  herein  expressed,  all 
the  estates,  properties,  rights,  powers  and  trusts  of  the  predecessor 
trustee  so  ceasing  to  act,  and  shall  duly  assign,  transfer  and  deliver  all 
property  and  moneys  held  by  such  trustee  to  the  successor  trustee. 
Should  any  deed,  conveyance  or  instrument  in  writing  from  the  Company 
be  required  by  the  successor  trustee  for  more  fully  and  certainly  vesting 
in  and  confirming  to  such  successor  trustee  such  estates,  rights,  powers 
and  duties,  any  and  all  such  deeds,  conveyances  and  instruments  in 
writing  shall  be  executed,  acknowledged  and  delivered  by  the  Company 
to  the  successor  trustee  upon  the  latter's  request. 

Section  5.  Any  Company  into  which  the  Trustee  or  any  successor 
trustee  may  be  merged  or  with  which  it  or  any  successor  trustee  may  be 
consolidated,  or  any  company  resulting  from  any  merger  or  consolidation 
to  which  the  Trustee  or  any  successor  trustee  may  be  a  party,  shall  be 
the  successor  of  the  Trustee  under  this  Indenture,  without  the  execution 
or  filing  of  any  instrument  or  the  performance  of  any  further  act  on  the 
part  of  any  of  the  parties  hereto,  anything  herein  to  the  contrary  not¬ 
withstanding. 

Section  6.  In  case  any  of  the  bonds  to  be  secured  hereby  shall  have 
been  authenticated  but  not  delivered,  any  successor  trustee  may  adopt 
the  certificate  of  authentication  of  the  Trustee  or  of  any  successor  to  it, 
and  deliver  the  same  as  so  authenticated;  and  in  case  any  of  the  bonds 


Merger  or 
consolida¬ 
tion  of 
Trustee. 


Authentica 
tion  or  de¬ 
livery  of 
bonds  by 
successor 
Trustee. 


166 


Trustee  not 
required  to 
give  bond  or 
security. 


Definition 
of  word 
“Trustee.” 


Consolida¬ 
tion,  merger, 
conveyance 
or  lease  by 
Company 
permitted. 


See  page 
128. 


shall  not  have  been  authenticated,  any  successor  trustee  may  authenticate 
such  bonds  either  in  the  name  of  any  predecessor  trustee  or  in  the  name 
of  the  successor  trustee;  and  in  all  such  cases  such  certificate  shall  have 
the  full  force  which  it  is  anywhere  in  the  bonds  or  in  this  Indenture 
provided  that  the  certificate  of  the  Trustee  shall  have. 

Section  7.  The  Trustee  and  every  successor  trustee  shall  be  exempt 
from  giving  any  bond  or  security  in  respect  to  the  execution  of  the  trusts 
or  powers  herein  contained,  or  otherwise  in  respect  of  the  premises. 

Section  8.  Except  when  the  context  otherwise  clearly  indicates,  the 
word  “Trustee”  or  any  other  equivalent  term,  as  used  in  this  Indenture, 
shall  be  held  and  construed  to  mean  the  Trustee  under  this  Indenture  for 
the  time  being,  whether  original  or  successor. 


ARTICLE  XIV. 

Consolidation,  Merger  and  Purchase. 

Section  1.  Nothing  in  this  Indenture  shall  prevent  any  consolidation 
or  merger  of  the  Company  with  or  into,  or  any  conveyance  or  lease 
(subject  to  the  continuing  lien  of  this  Indenture  and  to  all  provisions 
hereof  and  of  any  and  all  indentures  supplemental  hereto)  of  all  the 
properties  subject  to  this  Indenture  as  an  entirety,  to  any  other  cor¬ 
poration  lawfully  entitled  to  acquire  and  operate  the  same,  or  successive 
consolidations,  mergers,  conveyances  or  leases  to  which  the  Company 
or  its  successor  or  successors  shall  be  a  party  or  parties ;  provided,  how¬ 
ever,  that  no  such  consolidation,  merger,  conveyance  or  lease  shall  impair 
the  lien  and  security  of  this  Indenture  or  any  of  the  rights  and  powers 
of  the  Trustee  or  of  the  bondholders  hereunder;  and  provided  further, 
that  any  such  lease  shall  be  made  expressly  subject  to  immediate  termi¬ 
nation  by  the  Company  or  by  the  Trustee  at  any  time  upon  the  happening 
of  an  event  of  default,  as  defined  in  Section  2  of  Article  VI  hereof,  and 


167 


also  by  the  purchaser  of  the  property  so  leased  at  any  sale  thereof  made 
under  the  power  of  sale  herein  conferred  or  pursuant  to  judicial  proceed¬ 
ings  under  or  upon  this  Indenture;  and  provided  further  that  upon  any 
such  consolidation,  merger  or  conveyance,  or  upon  any  such  lease  the 
term  of  which  extends  beyond  the  date  of  maturity  of  any  bonds  secured 
hereby,  the  due  and  punctual  payment  of  the  principal  and  interest  of 
all  bonds  hereby  secured  at  the  time  outstanding,  or  thereafter  to  be  is¬ 
sued,  according  to  their  tenor  and  the  due  and  punctual  performance  and 
observance  of  all  of  the  covenants  and  conditions  of  this  Indenture,  and 
of  any  and  all  indentures  supplemental  hereto  shall,  by  an  indenture 
supplemental  hereto,  executed  and  delivered  to  the  Trustee,  be  expressly 
assumed  by  the  successor  corporation  formed  by  or  resulting  from  any 
such  merger  or  consolidation,  or  to  which  anv  such  convevance  shall  have 
been  made,  or  by  the  lessee  under  any  such  lease  the  term  of  which  ex¬ 
tends  beyond  the  date  of  maturity  of  any  bonds  secured  hereby. 

Section  2.  Every  successor  corporation  formed  by  or  resulting  from 
any  such  consolidation  or  merger,  or  to  which  a  conveyance  shall  have 
been  made  as  aforesaid,  upon  executing  an  indenture  supplemental  hereto 
as  provided  in  Section  1  of  this  Article  XIV,  in  form  satisfactory  to  the 
Trustee,  and  upon  delivering  or  causing  to  be  delivered  to  the  Trustee 
appropriate  proofs  of  such  consolidation,  merger  or  conveyance,  shall 
succeed  to  and  be  substituted  for  the  Company  with  the  same  force  and 
effect  as  if  it  had  been  named  herein  as  the  party  of  the  first  part;  and, 
upon  the  order  of  such  successor  corporation  instead  of  the  party  of 
the  first  part,  and  subject  to  all  the  terms,  conditions  and  limitations  pre¬ 
scribed  in  this  Indenture  and  any  and  all  supplements  hereto,  the 
Trustee  shall  authenticate  and  deliver  any  bonds  which  previously  shall 
have  been  signed  and  delivered  by  the  Company  to  the  Trustee  for  authen¬ 
tication,  and  such  corporation  may  thereupon  cause  to  be  signed  and 
may  issue,  either  in  its  own  name  or  in  the  name  of  the  party  of  the 
first  part,  and  under  the  corporate  seal  of  either  Company,  any  and  all 
bonds  which  shall  not  theretofore  have  been  signed  by  the  party  of  the 


Supple¬ 
mental 
Indenture 
to  be  executed 
by  successor. 


Successor 
corporation 
substituted 
for  Com¬ 
pany. 


See  page  166. 


168 


Conditions 
imposed  upon 
successor. 


See  page  166. 


first  part  and  delivered  to  the  Trustee;  and  the  Trustee,  upon  the  order 
of  such  successor  corporation,  in  lieu  of  the  party  of  the  first  part,  and 
subject  to  the  terms,  conditions  and  limitations  prescribed  in  this  Inden¬ 
ture  and  in  any  and  all  supplements  hereto,  shall  authenticate  and  deliver 
any  and  all  bonds  which  shall  have  previously  been  signed  and  de¬ 
livered  by  the  Company  to  the  Trustee  for  authentication,  and  any 
bonds  which  such  successor  corporation  shall  thereafter  cause  to  be 
signed  and  delivered  to  the  Trustee  for  that  purpose,  and  deliver  the  same 
to  said  successor  corporation  or  upon  its  order;  provided,  however,  that 
as  a  condition  precedent  to  the  execution  by  such  successor  corporation 
and  the  authentication  and  delivery  by  the  Trustee  of  any  such  additional 
bonds  and  the  exercise  by  the  successor  corporation  of  any  of  the  other 
privileges  conferred  upon  the  Company  by  this  Indenture,  the  Inden¬ 
ture  to  be  executed  and  delivered  to  the  Trustee  as  in  Section  1  of  this 
Article  XI Y  provided,  shall  contain  a  conveyance  or  transfer  and  mort¬ 
gage  in  terms  sufficient  to  include  any  property  which  is  to  be  made  the 
basis  of  the  authentication  of  any  such  additional  bonds  or  the  basis  for 
the  exercise  by  the  successor  corporation  of  any  of  the  other  privileges 
conferred  upon  the  Company  by  this  Indenture;  and  provided  further, 
that  the  lien  created  thereby  shall  have  similar  force,  effect  and  standing 
as  the  lien  of  this  Indenture  would  have  if  the  Company  should  not  be 
consolidated  with  or  merged  into  such  other  corporation  or  should  not 
convey  or  transfer  subject  to  this  Indenture  all  of  the  properties  subject 
to  this  Indenture  as  an  entirety  as  aforesaid  to  such  successor  corporation 
and  should  itself  acquire  or  construct  the  property  to  be  made  the  basis 
for  the  authentication  and  delivery  of  bonds  under  the  provisions  of  this 
Indenture  in  respect  thereto  or  the  exercise  by  the  successor  corporation 
of  any  of  the  other  privileges  conferred  upon  the  Company  by  this 
Indenture. 

The  Trustee  may  receive  the  certificate  of  any  counsel  selected  by  it 
(who  may  be  of  counsel  to  the  Company)  as  conclusive  evidence  that  any 
such  Indenture  complies  with  the  foregoing  conditions  and  provisions  of 
this  Section  2.  All  bonds  so  issued  shall  in  all  respects  have  the  same 


k 


169 

legal  rank  and  security  as  the  bonds  theretofore  or  thereafter  issued  in 
accordance  with  the  terms  of  this  Indenture  as  though  all  of  said  bonds 
had  been  actually  issued  by  the  Company  at  the  date  of  execution  hereof. 

In  case  of  such  consolidation,  merger  or  conveyance,  such  changes  in 
phraseology  and  form  (but  not  in  substance)  may  be  made  in  the  bonds 
and  coupons  hereby  secured  thereafter  to  be  issued,  as  may  be  appropriate 
by  reason  of  such  consolidation,  merger  or  conveyance. 

Section  3.  The  Trustee  shall  be  under  no  duty  to  see  that  any  such 
successor  corporation  shall  assume  the  payment  of  the  bonds  issued  here¬ 
under  and  the  performance  of  the  covenants  and  conditions  hereof,  except 
as  a  condition  precedent  to  the  vesting  in  such  successor  corporation  of 
the  rights  and  powers  conferred  by  Section  2  of  this  Article  XIV.  Except  See  page  167. 
as  otherwise  in  this  Indenture  expressly  provided,  no  such  consolidation, 
merger,  conveyance  or  indenture  supplemental  hereto  shall  or  is  intended  Extent  to 

which  prop- 

to  subject  to  the  lien  of  this  Indenture  any  or  all  of  the  properties  or  ^e°sfsor 
franchises  of  any  corporation  with  which  the  Company  or  any  successor  shaiTbetl0n 

.  "  subject  to  the 

may  be  so  consolidated  or  into  which  the  Company  or  any  successor  may  indenture3 
be  so  merged  or  to  which  the  Company  or  any  successor  may  make 
any  such  conveyance,  except  those  acquired  by  it  from  the  Company, 
unless  the  successor  corporation,  in  its  discretion,  shall  subject  the  same 
to  the  lien  hereof ;  provided,  however,  that  this  Indenture  notwithstanding 
any  such  consolidation,  merger  or  conveyance  shall  constitute  a  lien  on 
additions,  extensions  and  improvements  comprising  fixtures  or  appur¬ 
tenances  to  the  trust  estate,  and  on  such  property  as  may  be  acquired  by 
the  successor  corporation  in  pursuance  of  the  covenants  herein  contained 
to  preserve  and  keep  in  full  effect  all  the  rights,  franchises  and  privileges 
comprised  in  the  trust  estate  and  to  maintain,  preserve  and  keep  the  trust 
estate  in  good  repair,  working  order  and  condition,  or  in  pursuance  of 
some  other  covenant  or  agreement  hereof  to  kept  or  performed  by  the 
Company;  and  upon  any  property  which  is  used  by  the  successor  corpo¬ 
ration  as  a  basis  for  the  authentication  and  delivery  of  any  bonds  issued 


170 


Definition 
of  term 
“Company.” 


Surrender 
of  powers 
by  Company. 


Execution  and 
purposes  of 
supplemental 
indentures. 


See  pages 
63  and  77. 


hereunder  or  as  a.  basis  for  the  exercise  by  the  successor  corporation  of 
any  of  the  other  privileges  conferred  upon  the  Company  by  thisi  Indenture. 

Section  4.  For  every  purpose  of  this  Indenture,  including  the  exe¬ 
cution,  issue  and  use  of  any  and  all  bonds  hereby  secured,  the  term 
“Company”  includes  and  means  not  only  the  party  of  the  first  part,  but. 
also  any  such  successor  corporation.  Any  act  or  proceeding  by  any  pro¬ 
vision  of  this  Indenture  authorized  or  required  to  be  done  or  performed 
by  any  board  or  officer  of  the  Company  shall  and  may  be  done  and 
performed,  with  like  force  and  effect,  by  the  like  board  or  officer  of  any 
such  successor  corporation. 

Section  5.  Nevertheless,  before  the  exercise  of  the  powers  conferred 
by  this  Article  XIV  the  Company,  by  instrument  in  writing  executed  by 
authority  of  its  Board  of  Directors,  by  the  affirmative  vote  of  two-thirds 
of  the  whole  number  of  directors,  and  delivered  to  the  Trustee,  may  sur¬ 
render  any  of  the  powers  reserved  to  it,  or  to  its  successors,  as  aforesaid ; 
and  thereupon  such  power  so  surrendered  shall  terminate. 


ARTICLE  XV. 

Supplemental  Indentures. 

Section  1.  In  addition  to  any  supplemental  indenture  otherwise 
authorized  by  this  Indenture,  the  Company,  when  authorized  by  resolu¬ 
tion  of  its  Board  of  Directors,  and  the  Trustee,  from  time  to  time  and 
at  any  time,  subject  to  the  conditions  and  restrictions  in  this  Indenture 
contained,  may  enter  into  an  indenture  or  indentures  supplemental  hereto 
and  which  thereafter  shall  form  a  part  hereof,  for  any  one  or  more  or 
all  of  the  following  purposes: 

(a.)  To  add  to  the  conditions,  limitations  and  restrictions 
on  the  authentication  and  delivery  of  bonds  specified  in  Articles  I 
and  II  hereof,  other  conditions,  limitations  and  restrictions  there- 


171 


after  to  be  observed  with  respect  to  all  bonds  to  be  issued  here¬ 
under  or  with  respect  only  to  one  or  more  series  thereof. 

(b)  To  add  to  the  covenants  and  agreements  of  the  Company 
in  this  Indenture  contained,  other  covenants  and  agreements  there¬ 
after  to  be  observed. 

(c)  To  evidence  the  determination  of  the  Company  to  create 
any  new  series  of  bonds  and,  in  such  event,  specifying  the  series 
to  be  created,  *the  date  of  maturity  thereof,  the  place  or  places 
where  payable,  the  rate,  date  and  place  of  payment  of  interest,  the 
terms  and  conditions  of  optional  redemption,  if  redeemable,  and 
such  other  provisions  and  agreements  in  respect  thereof  in  this 
Indenture  provided  or  permitted  as  the  Board  of  Directors  of 
the  Company  shall  determine. 

( d )  To  evidence  the  succession  of  another  corporation  to  the 
Company,  or  successive  successions,  and  the  assumption  by  a  suc¬ 
cessor  corporation  of  the  covenants  and  obligations  of  the  Com¬ 
pany  contained  in  the  bonds  hereby  secured  and  in  this  Indenture 
and  in  any  and  every  supplemental  indenture. 

(e)  To  convey,  transfer  and  assign  to  the  Trustee,  and  to 
subject  to  the  lien  of  this  Indenture,  with  the  same  force  and 
effect  as  though  included  in  the  granting  clauses  hereof,  additional 
properties,  securities  and  franchises  hereafter  acquired  by  the 
Company  through  consolidation  or  merger,  or  by  purchase  or 
otherwise. 


Section  2.  The  Trustee  is  hereby  authorized  to  join  with  the  Com-  Trusteeis 
pany  in  the  execution  of  any  such  supplemental  indenture  and  to  make  executeZt<U° 

1  17  supplemental 

the  further  agreements  and  stipulations  which  may  be  therein  contained.  indentures- 


172 


Successors 
and  assigns. 


Covenants  a 
for  benefit 
only  of 
parties  and 
bondholders. 


Counterparts. 


Testimonium. 


ARTICLE  XVI. 

Sundry  Provisions. 

Section  1.  All  of  the  covenants,  stipulations,  promises  and  agree¬ 
ments  in  this  Indenture  contained  by  or  in  behalf  of  the  Company  shall 
bind  its  successors  and  assigns,  whether  so  expressed  or  not. 

Section  2.  Except  as  otherwise  expressly  provided  herein,  nothing 
in  this  Indenture,  expressed  or  implied,  is  intended  or  shall  be  construed 
to  confer  upon,  or  give  to  any  person,  firm  or  corporation  other  than  the 
parties  hereto  and  the  holders  from  time  to  time  of  the  bonds  issued 
under  and  secured  by  this  Indenture,  any  security,  rights,  remedies  or 
claims,  legal  or  equitable,  under  or  by  reason  hereof,  or  any  covenant, 
condition  or  stipulation  hereof;  and  this  Indenture  and  all  the  cove¬ 
nants  and  agreements  herein  are  and  shall  be  held  to  be  for  the  sole 
and  exclusive  benefit  of  the  parties  hereto  and  the  holders  from  time  to 
time  of  the  bonds  and  coupons  hereby  secured. 

Section  3.  This  Indenture  may  be  simultaneously  executed  in  sev¬ 
eral  counterparts,  each  of  which  when  so  executed  shall  be  deemed  to 
be  an  original;  but  such  counterparts  shall  together  constitute  but  one 
and  the  same  instrument. 

In  witness  whereof,  The  Columbus  Railway,  Power  and  Light 
Company,  party  hereto  of  the  first  part,  has  caused  its  corporate  name  to 
be  hereunto  affixed,  and  this  instrument  to  be  signed  by  its  President 
or  a  Vice-President,  and  its  corporate  seal  to  be  hereunto  affixed  and 
attested  by  its  Secretary  or  an  Assistant  Secretary  for  and  in  its  behalf, 
and  Harris  Trust  and  Savings  Bank,  party  hereto  of  the  second 
part,  in  token  of  its  acceptance  of  the  trust  hereby  created,  has 
caused  its  corporate  name  to  be  hereunto  affixed,  and  this  instrument 
to  be  signed  by  its  President  or  a  Vice-President  and  its  corporate  seal 


173 


to  be  hereunto  affixed  and  attested  by  its  Secretary  or  an  Assistant  Secretary,  for  and 
in  its  behalf,  all  as  of  the  day  and  year  first  above  written. 

The  Columbus  Railway,  Power  and  Light  Company, 

By  Norman  McD.  Crawford 

Attest:  Vice-President. 

Herbert  M.  Burington 

Assistant  Secretary.  [seal] 

Signed,  sealed  and  delivered  by  The  Columbus  Rail- ] 
way,  Power  and  Light  Company,  in  the  presence  of  ] 

T.  L.  Carothers 
C.  E.  Lacey 


Attest : 

H.  A.  Dow, 
Secretary. 


Signed,  sealed  and  delivered  by  Harris  Trust ] 
and  Savings  Bank,  in  the  presence  of  J 

M.  A.  McConnell 
W.  H.  Milsted 


Harris  Trust  and  Savings  Bank, 

By  H.  W.  Fenton 

Vice-President. 

[seal] 


State  of  Ohio,  ?  . 

County  of  Franklin,  jbS'  ' 

Be  it  pemembered,  that  on  this  25  day  of  January,  1922,  personally  appeared  before  me,  the  undersigned,  a 
Notary  Public  within  and  for  said  County  and  State,  The  Columbus  Railway,  Power  and  Light  Company,  one  of  the 
corporations  named  in  and  which  executed  the  foregoing  instrument,  by  Norman  McD.  Crawford,  its  Vice-President,  and 
by  Herbert  M.  Burington,  its  Assistant  Secretary,  to  me  known  and  known  to  me  to  be  such  Vice-President  and 
Assistant  Secretary  respectively,  who  severally  duly  acknowledged  the  signing  and  sealing  of  the  foregoing  instrument  to  be 
their  free  act  and  voluntary  deed,  and  the  free  act  and  voluntary  deed  ot  each  of  them,  as  such  Vice-President  and 
Assistant  Secretary  respectively,  and  the  free  act  and  voluntary  deed  of  said  corporation,  for  the  uses  and  purposes 
therein  expressed  and  mentioned. 

My  commission  expires  July  17,  1923. 

In  witness  whereof,  I  have  hereunto  set  my  hand  and  Notarial  Seal  this  25  day  of  January,  1922. 

Sherman  B.  Randall, 

Notary  Public,  [seal] 


State  of  Illinois,]  . 

County  of  Cook,  ]b  '  * 

Be  it  remembered,  that  on  this  26th  day  of  January,  1922,  personally  appeared  before  me,  a  Notary  Public  within 
and  for  said  County  and  State,  H.  W.  Fenton  and  H.  A.  Dow,  to  me  known  and  known  to  me  to  be  a  Vice- 
President  and  Secretary  respectively  of  Harris  Trust  and  Savings  Bank,  one  of  the  corporations  which  executed 
the  foregoing  instrument,  who  duly  acknowledged  that  the  corporate  seal  affixed  to  the  foregoing  instrument  is  the  corporate 
seal  of  said  Harris  Trust  and  Savings  Bank  and  that  they  executed  such  instrument  as  such  Vice-President  and  Secretary 
respectively  of  said  corporation,  for  and  on  behalf  of  said  corporation,  and  that  the  same  is  their  free  act  and  deed  as  such 
Vice-President  and  Secretary,  and  the  free  corporate  act  and  deed  of  said  Harris  Trust  and  Savings  Bank. 

In  witness  whereof  I  have  hereunto  set  my  hand  and  Notarial  Seal  this  26th  day  of  January,  1922. 

My  commission  expires  February  16,  1924. 


Signatures. 


Acknowledg¬ 

ments. 


M.  W.  RAYMOND, 

Notary  Public,  [seal] 


174 


Acknowledg¬ 

ments. 


Recorder’s 

Certificate. 


State  of  Illinois,  1 
County  of  Cook, j '  ' 

Be  it  iememberbd,  that  on  this  26th  day  of  January,  1922,  personally  appeared  before  me,  the  undersigned,  a 
Notary  Public  within  and  for  said  County  and  State,  Harris  Trust  and  Savings  Bank,  one  of  the  corporations  named 
in  and  which  executed  the  foregoing  instrument,  by  H.  W.  Fenton,  its  Vice-President,  and  by  H.  A.  Dow,  its  Secretary, 
to  me  known  and  known  to  me  to  be  such  Vice-President  and  Secretary  respectively,  who  severally  duly  acknowledged 
the  signing  and  sealing  of  the  foregoing  instrument  to  be  their  free  act  and  voluntary  deed,  and  the  free  act  and 
voluntary  deed  of  each  of  them,  as  such  Vice-President  and  Secretary,  respectively,  and  the  free  act  and  voluntary  deed 
of  said  corporation,  for  the  uses  and  purposes  therein  expressed  and  mentioned. 

My  commission  expires  February  16/1924. 

In  witness  whereof,  I  have  hereunto  set  my  hand  and  Notarial  Seal  this  26th  day  of  January,  1922. 

M.  W.  Raymond. 

Notary  Public,  [seal] 


The  State  of  Ohio] 

Franklin  County,  J  bs' 

I,  Harold  C.  Gockenbach,  Clerk  of  the  Court  of  Common  Pleas,  which  is  a  court  of  record,  within  and  for  said 
County  and  State  aforesaid,  do  hereby  certify  that  Sherman  B.  Randall  whose  signature,  as  Notary  Public  is  attached 
to  the  within  acknowledgment  was  at  the  date  thereof,  a  duly  commissioned  and  qualified  Notary  Public  in  and  for  said 
County,  and  as  such  officer  was  duly  authorized  to  take  acknowledgments  of  deeds,  mortgages,  liens,  powers  of  attorney 
and  other  instruments  of  waiting  and  that  I  am  acquainted  with  his  handwriting,  and  believe  that  the  signature  to 
the  acknowledgment  herein  is  genuine,  and  that  the  foregoing  instrument  is  executed  according  to  the  laws  of  the 
State  of  Ohio. 

In  testimony  whereof,  I  have  hereunto  set  my  hand  and  affixed  the  seal  of  said  Court  at  Columbus,  this  25th 
day  of  January  A.  D.  1922. 

Harold  C.  Gockenbach 

[seal]  Clerk 


State  of  Illinois,  } 

Cook  County,  J  ss> 

I,  Roeert  M.  Sweitzer,  County  Clerk  of  the  County  of  Cook,  do  hereby  certify  that  I  am  the  lawful  custodian 
of  the  official  records  of  Notaries  Public  of  said  County  and  as  such  officer  am  duly  authorized  to  issue  certificates  of 
magistracy,  that  M.  W.  Raymond,  whose  name  is  subscribed  to  the  proof  of  acknowledgment  of  the  annexed  instrument 

in  writing,  was,  at  the  time  of  taking  such  proof  of  acknowledgment,  a  Notary  Public  in  and  for  Cook  County,  duly 

commissioned,  sworn  and  acting  as  such  and  authorized  to  take  acknowledgments  and  proofs  of  deeds  or  conveyances 
of  lands,  tenements  or  hereditaments,  in  said  State  of  Illinois  and  to  administer  oaths ;  all  of  which  appears  from  the 
records  and  files  in  my  office ;  that  I  am  well  acquainted  with  the  handwriting  of  said  Notary  and  verily  believe  that 

the  signature  to  the  said  proof  of  acknowledgment  is  genuine ;  and,  further,  that  the  annexed  instrument  is  executed 

and  acknowledged  according  to  the  laws  of  the  State  of  Illinois. 

In  testimony  whereof  I  have  hereunto  set  my  hand  and  affixed  the  seal  of  the  County  of  Cook  at  my  office  in 
the  City  of  Chicago  in  the  said  County  this  26  day  of  Jany,  1922 

Robert  M.  Sweitzer, 

[seal]  County  Clerk. 


“RECORDER’S  OFFICE 
Franklin  County,  State  of  Ohio. 
Received  Jan.  27,  1922, 
at  8  :30  A.  M. 

Recorded  Feb.  17,  1922. 

In  Vol.  597  of  Mortgages 
Page  11—107  seq. 

R.  J.  Williams, 

County  Recorder. 

Fee  $88.00” 


J378 


}.• 


3  0112  105646712 


